Mozambique is firmly cementing its position as a global powerhouse in ruby production, with the government confidently forecasting a new record of over 4.1 million carats in 2025. This projected 5% increase from 2024 underscores a vibrant resurgence in the nation’s precious stones sector, driven by strategic investments and the surging performance of key mining players.
According to a recently released government document outlining the economic forecast for 2025, a precise figure of 4,143,832 carats of rubies is expected to be extracted from mining concessions across Mozambique between January and December. Rubies, already the undisputed heavyweight in the country’s precious and semi-precious stone output, account for a staggering 76% of all such minerals produced this year, with the vast majority earmarked for export.
The anticipated surge is attributed primarily to “the increase in the capacity of the processing plant” of SLR Mining, as detailed in the same economic and budgetary estimate. This expansion signals a significant boost to the country’s extraction capabilities, promising even greater yields in the coming year.
This optimistic outlook builds on an already impressive performance in 2024, which saw ruby production soar to nearly four million carats – a remarkable 46% increase compared to the previous year. Government data highlighted the “biggest highlight” in the precious and semi-precious stones group going to rubies, which achieved a 128% execution level against its annual plan.
Breaking down the figures, ruby production escalated from 2,710,617.70 carats in 2023 to 3,946,506.90 carats in 2024, comfortably exceeding the government’s target of 3,080,895 carats for last year.
This stellar growth, the document explains, was a direct result of “the good performance of the company SLR Mining, which assumed the position of largest producer of this mineral resource, with the start of operations of another processing plant.” Indeed, SLR Mining was responsible for an impressive “more than 70% of the total of this mineral resource.” Further contributing factors included the full resumption of production by Moza Minerals and intensive excavation activities by Montepuez Ruby Mining (MRM) in three highly productive blocks.
The latest figures mark a significant turnaround from 2023, which saw ruby production dip to 2.7 million carats, a decline from 4.2 million carats in 2022 and five million carats in 2021.
The economic impact of Mozambique’s ruby wealth is substantial. Data previously released by Gemfields, which holds a 75% stake in MRM, reveals that the exploration of rubies at the MRM mine in Cabo Delgado alone has generated almost one billion Euros since 2012.
According to the “G Factor for Natural Resources” report, a transparency initiative by Gemfields, MRM recorded total revenue of US$151.3 million (€141 million) in 2023. Since Gemfields acquired its majority stake in MRM in February 2012, the mine has accumulated revenues exceeding US$1,055 million (€982.7 million). In the same period, the Mozambican state has received a substantial US$257.4 million (€239.7 million).
In 2023 alone, MRM, a joint venture between Gemfields and Mozambican company Mwiriti Limitada (25%), paid the Mozambican state US$53.2 million (€49.6 million) in royalties and taxes, underscoring the significant contribution of the ruby sector to the national fiscus. With projected increases in production, these figures are set to grow, further solidifying Mozambique’s position in the global gem market.
