By: Mozambique mining journal

According to the latest budget execution report from the Mozambican Ministry of Economy and Finance, ruby production reached an impressive 102% of the annual plan, marking a 49% increase compared to the previous period.

“The highlight goes to ruby, which recorded a level of execution of 102% concerning the annual plan and a growth rate of 49% in the period under analysis,” the report stated.

SLR Mining, now the largest ruby producer in the country, has played a pivotal role in this upswing. The company’s new processing plant has significantly boosted its output, contributing to over 70% of the total ruby production.

“Resulting from the good performance of the company SLR Mining, which assumed the position of the largest producer of this mineral resource, with the start-up of another processing plant. This company was responsible for the production of more than 70% of the total of this mineral resource,” the document details.

In the first nine months of 2024, Mozambique produced a staggering 3,145,391 carats of rubies, exceeding the initial forecast of 3,080,895 carats. This growth can also be attributed to the full resumption of production by Moza Minerals and the intensified mining activities at Montepuez Ruby Mining (MRM).

However, the industry faced significant challenges earlier in the year. In March 2024, production plummeted by 55% year-on-year due to operational issues at MRM, the largest ruby mine in the country. This decline also impacted ruby exports, which fell by 80% in the first quarter of the year.

Despite these setbacks, the industry has demonstrated resilience and a strong recovery. The resumption of normal operations at MRM, coupled with the contributions of other key players, has propelled Mozambique’s ruby sector to new heights.

The resurgence of Mozambique’s ruby industry is not only a boon for the economy but also a testament to the country’s rich mineral resources and its potential for sustainable growth.