Mozambique Mining: Mustang Resources sends first rubies from Montepuez to US clients

Australian company Mustang Resources has shipped the first commercial batch of rubies mined at the Montepuez mine in northern Mozambique to the United States, the company said in a statement released Friday.

The company also reported that this first batch of 6221 carats (1244 grams) was sent to clients such as the stoning company Meg Berry and several jewelers in California.

The batch, Mustang Resources said, included five special gems with a combined weight of 75 carats and two rubles with 24 carats each, which the company defines as rare.

Sending this first batch will get the Australian company to gather more opinions on the potential value of the rubies it extracts in Montepuez and on the marketing strategies improvements in order to obtain the best possible valuation.

The Montepuez Ruby Project consists of three licenses covering 15,800 hectares adjacent to the largest ruby deposit in the world, operated by London-based Gemfields.

Mustang also holds a majority interest in two diamond mining licenses along the Save river in central Mozambique, downstream of the Murowa and Marange diamond fields in Zimbabwe.

In addition, Mustang Resources holds rights to graphite exploration near large deposits discovered by Syrah Resources and Triton Minerals. (source: Macauhub-MZ)