Welcome to the Know-All about the hottest commodities in the gemstone market – Mozambique Rubies!

Known for their rich red coloration and exceptional clarity Mozambique rubies have carved a niche for themselves due to their exceptional beauty, quality as well as consistency in supply.

                 Picture Credits: Navneet Gems, Mozambique Ruby Rough

The history of Mozambique rubies traces back to the discovery of ruby deposits in the Montepuez area of Mozambique in the early 2000s. Prior to this discovery, Mozambique was not considered a significant source of rubies. However, the Montepuez mines quickly gained attention for producing high-quality stones rivaling those from traditional sources like Myanmar (Burma) and Thailand. The availability of Mozambique rubies has helped meet the demand for fine-quality rubies, especially as other sources have faced challenges such as depletion or political instability. 

Geological Factors adding up to the value of Mozambique Rubies

Mozambique rubies are typically formed in metamorphic rocks, such as marble or amphibolite, where the right combination of elements, including chromium, aluminum, and oxygen, undergoes crystallization over millions of years.

The geological composition of Mozambique rubies includes corundum, the mineral species of which ruby is a variety. Corundum is composed of aluminum oxide (Al2O3) with traces of other elements like iron, titanium, and chromium, which give rubies their distinctive red coloration. The presence of chromium is particularly significant, as it is responsible for the vibrant red hues in these gemstones.

                      Picture Credits: Navneet Gems, Mozambique Ruby Rough

Mozambique rubies possess several unique characteristics that distinguish them from rubies found in other locations. These may include exceptional clarity, intense color saturation, and a fluorescence effect known as “pigeon’s blood,” which refers to a deep red hue prized by gemstone enthusiasts. Additionally, Mozambique rubies may exhibit phenomena such as asterism (the formation of a star-like pattern) or color zoning, adding to their allure and individuality.

Mining and Production of Mozambique Rubies

The primary mining sites for Mozambique rubies are located in the Montepuez district of Mozambique. Fura Gems, Mozambique is one of the prime players in this region. This region has become one of the world’s most significant sources of rubies since the discovery of extensive deposits in 2009. Other notable mining sites in Mozambique include the Niassa and Cabo Delgado provinces, although they may not produce rubies on the same scale as Montepuez.

The extraction of Mozambique rubies typically involves both mechanized and artisanal mining techniques. Mechanized methods, such as open-pit mining and mechanized tunneling, are employed in large-scale operations to access deeper deposits efficiently. Artisanal mining, often conducted by local miners using basic tools and manual labor, also contributes to the ruby production in the region, particularly in smaller, less accessible areas.

Mozambique has seen significant growth in ruby production since the discovery of major deposits in the Montepuez area. The country has become a key player in the global ruby market, with production trends influenced by factors such as market demand, economic conditions, and regulatory changes. However, Mozambique’s ruby production is expected to remain sufficient in the foreseeable future, contributing to the supply of high-quality rubies in the global gemstone trade.

QUALITY ASSESSMENT OF MOZAMBIQUE RUBIES

Color Grading:

Color is one of the most critical factors in determining the quality of Mozambique rubies. Gemologists evaluate the hue, tone, and saturation of the ruby’s color using standardized grading systems. Desirable hues range from vivid red to slightly purplish-red, with the most prized color often described as “pigeon’s blood” red. The tone refers to the darkness or lightness of the color, with medium tones generally preferred. Saturation measures the intensity or vividness of the color, with strong saturation being more valuable.

               Picture Credits: Navneet Gems, Mozambique Ruby Color Chart

As seen in the Ruby Color Chart, the most valuable kind of ruby is pigeon blood in color, which the price tapers down to orangish red. However, that the value of any gemstone is directly proportional to human perception. In our experience, the pinkish-red Mozambique ruby has found the most favour with both investors and dealers. This change in consumer behaviour bodes well, because of the consistent available supply of Mozambique Pink rubies, when compared to the traditional pigeon blood rubies.

In terms of price, the Pinkish red Mozambique rubies are also significantly price sensitive and economical, when compared to red rubies of pigeon blood rubies. This presents a market for consumers who are looking for high quality gemstones for alternative engagement rings.

Clarity and Transparency: 

Clarity assesses the presence of internal flaws, known as inclusions, and surface blemishes within the ruby. Mozambique rubies with minimal inclusions and high transparency are considered more valuable. However, it is an industry accepted phenomenon that rubies contain characteristic inclusions, such as rutile needles or silk, which can enhance their beauty and authenticity if they do not significantly affect transparency or durability. 

                   Picture Credits: Navneet Gems, Cuts of rubies.

Cut and Carat Weight: 

The cut of a Mozambique ruby plays a crucial role in maximizing its brilliance and showcasing its color and clarity. Gem cutters aim to create facets that interact with light in a way that enhances the ruby’s natural beauty. Popular cuts for Mozambique rubies include oval, cushion, and round shapes, although custom cuts may also be employed to maximize the stone’s potential. 

              Picture Credits: Navneet Gems, Newer Cuts of rubies.

At Navneet Gems, we believe in a diverse gem portfolio. This has led us to experiment with various non-traditonal cuts like tablet cuts, portrait cuts, rose cut and more. A significant part of the consumer base today is looking to purchase such non-traditional forms, opening up newer avenues for gemstone-cutting specialists like us. Our signature tablet cuts are flatter ruby rough that are naturally mined and do not require much cutting. This also means that lesser rough goes to waste in the pursuit of traditional standards, and as you all know, we are all about sustainability!

MARKET TRENDS OF MOZAMBIQUE RUBIES

Historically, Mozambique rubies have commanded high prices in the gemstone market, particularly as their availability increased following significant discoveries in the Montepuez area. Prices for Mozambique rubies have generally trended upwards with certain stones fetching premium prices, especially those exhibiting the classic Mozambique Pink red coloration. In fact, with the price of red rubies hitting an all time high, we have witnessed an increase in demand for pinkish red rubies. While being more affordable, these also present a better investment-to-return ratio than red rubies due to their lower prices.  

Commercially, Mozambique rubies can be available as heated or unheated, depending on the quality of the rough obtained. In our practice, we have observed similar pricing trends between heated and unheated Mozambique rubies,

The demand for Mozambique rubies remains strong especially with the scarcity of rubies from traditional sources like Myanmar. Jewelry designers, collectors, and enthusiasts seek Mozambique rubies for their vibrant color, clarity, and unique characteristics, contributing to sustained market demand.

COMPARISON WITH OTHER RUBY SOURCES

Mozambique rubies are often compared with rubies from other sources such as Myanmar (Burma), Thailand, and East Africa. For example, Myanmar rubies are renowned for their intense red color and fluorescence, while Mozambique rubies may display a slightly purplish hue and varying levels of clarity.

Mozambique rubies offer several competitive advantages, including their relatively abundant supply, consistent quality, and favorable geological conditions for producing high-quality gemstones. Additionally, Mozambique’s political stability and supportive mining regulations contribute to the country’s competitive position in the ethically sourced ruby market compared to regions facing challenges such as political unrest or resource depletion. All of these factors add up to make for Mozambique rubies to be fairly priced, with just compensation for the labour involved.

THE INVESTMENT POTENTIAL OF MOZAMBIQUE RUBIES

Mozambique rubies have demonstrated strong historical performance in the gemstone market, with prices generally increasing over time due to their scarcity, quality, and market demand. Investors have seen favorable returns on investment in Mozambique rubies, especially for high-quality stones with desirable characteristics.

The forecasted growth for Mozambique rubies is positive, driven by factors such as increasing demand from emerging markets, continued exploration and development of ruby deposits in Mozambique, and evolving consumer preferences for colored gemstones. As the global economy expands and demand for luxury goods rises, Mozambique rubies are likely to maintain their appeal as an investment asset.

                           PICTURE COURTESY: Navneet Gems at Tucson 2024 

Our patrons demonstrating a keen interest in our collection of Mozambique rubies  / In discussion about the value of Mozambique rubies with respect to the current market trends.

Risks associated with investing in Mozambique rubies include market volatility, geopolitical instability in the region, regulatory changes affecting the gemstone trade, and the potential for fluctuations in supply and demand. However, opportunities exist for investors to diversify their portfolios, capitalize on the growing interest in colored gemstones, and leverage advancements in technology and marketing to maximize returns.

ETHICAL, ENVIRONMENTAL CONSIDERATIONS AND FUTURE TRENDS

Ethical and environmental considerations in Mozambique ruby mining are crucial. Responsible practices ensure fair treatment of workers and minimize ecological impact. Major players like Fura Gems and Gemfields prioritize conservation efforts and adhere to regulations for ethical and sustainable operations. Emerging trends include demand for traceable gems and advancements in technology for identification and certification. Technological innovations like blockchain and spectroscopic analysis enhance transparency and sustainability. Long-term sustainability depends on balancing economic development with social and environmental responsibility, requiring stakeholder collaboration and continuous improvement. Mozambique rubies offer a valuable investment opportunity, with stakeholders shaping the industry’s future through responsible practices and sustainable development.