Chinese demand for Mozambican rubies and emeralds is surging, according to Montepuez Ruby Mining (MRM), the company operating the precious stones mine of Namanhumbir, Cabo Delgado province.
There is a “growing demand for Namanhumbir rubies” in China and more than 50% of Chinese buyers want to buy rubies and emeralds from Mozambique, acording to a statement released by MRM on Wednesday.
Estimates on the Chinese precious stones market by Gemfields, the British mining company that owns 75% of MRM’s shares, show that 35% of Chinese jewelers intend to acquire rubies and 25 % want emeralds, according to the document.
The study results provide a clear set of conclusions regarding the preferences and behaviors of jewelers in China, MRM adds.
According to Sean Gilbertson, Gemfields CEO, China “is a very important market” for the company and that “it is highly positive that 97% of jewelry owners are willing to pay an additional amount for gemstones extracted responsibly”.
This is “the time to take the opportunity to satisfy the expectations of Chinese consumers, in matters of corporate responsibility and sustainability”.