Montepuez Ruby Mining

Company Description

Montepuez Ruby Mining (MRM) is a Mozambican company developing operations at the Montepuez ruby deposit, located in the northeast of Mozambique in the Cabo Delgado province. Covering approximately 33,600 hectares, it is believed to be the most significant recently discovered ruby deposit in the world.MRM is 75% owned by Gemfields, and 25% by Mwiriti, a Mozambican company. A world leading supplier of responsibly sourced coloured gemstones, MRM aims to emulate values of Gemfields and operate in a way that contributes positively to the national economy while taking a leading role in modernising the coloured gemstone sector. We believe that coloured gemstones should be mined and marketed by championing three key values - legitimacy, transparency and integrity. More than being just a mining company, MRM invests in preservation of environment, health, education and livelihood projects tailored to the needs of the community, and with extensive consultation with the government authorities and the community around Namanhumbir and Montepuez. In practice this means building schools, a mobile clinic, upgrading utilities, roads and bridges, providing start-up funds, project and financial management expertise, helping to set up farming associations and facilitating training, all with a view to benefiting the community with new alternative sustainable sources of income.

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