Regional violence and financial difficulties have beset the miner’s ruby operations in the African country. How will that affect supply?
On December 24 last year, the Montepuez Ruby Mining (MRM) operation in Mozambique — one of Gemfields’ most prized assets — was thrust into chaos. A violent confrontation erupted as more than 200 illegal ruby miners stormed the residential village next to the mine, which the company had built to house MRM workers.
The attackers set fire to buildings and attempted to invade the ruby deposit that Gemfields controls. They were met with force by security teams consisting of military and police positioned to protect Gemfields’ interests. This resulted in two of the invaders getting shot and killed at the mine site.