Mozambique’s ruby production nearly reached 4 million carats in 2024, marking a 46 percent increase from the previous year. The country surpassed its annual target of over 3 million carats within nine months, with SLR Mining playing a pivotal role in the recovery. Both MRM and SLR are set to enhance their production capabilities, which will positively impact state revenues and job creation.

In 2024, Mozambique’s ruby production is projected to reach nearly 4 million carats, reflecting a significant increase of 46 percent compared to 2023, as reported by the Portuguese news agency Lusa. The government exceeded its 2024 target of 3,080,895 carats within the first three quarters, achieving 3,145,391 carats, despite challenges such as production shortages and decreasing export values earlier in the year.

Production improvements became evident in the second quarter, which accounted for over half of the annual target, in stark contrast to just 8 percent achieved in the first quarter. Following this, the third and fourth quarters demonstrated robust performance, contributing to a total production of 3,946,506 carats for the year. Earlier production deficits were attributed to equipment problems at Montepuez Ruby Mining (MRM) and local military instability, but SLR Mining’s substantial output helped facilitate recovery, producing over 70 percent of the total volume.

Mozambique’s ruby industry is on a notable upswing, with 2024 production estimates nearing 4 million carats, marking a dramatic recovery from previous years. Key players such as SLR Mining and MRM are vital to this growth, supported by government initiatives and enhanced operational capacities. Looking ahead, further advancements in mining technology are expected to propel production and bolster economic contributions from this vital sector.

Original Source: macaonews.org