The value of US Republic’s Resources Mozambique’s “rough” ruby cut/polish transaction just increased exponentially (as did its per carat selling price), …This, as result of …“Cyclone Chido devastates Mozambique” and, … “flooded mines …”.
“Cyclone Chido devastates Mozambique
Cyclone Chido brought strong winds and heavy rain that destroyed buildings and flooded mines in northern Mozambique on Sunday … the storm left a trail of death and destruction in France’s Indian Ocean territory of Mayotte as well.
The cyclone slammed into Mozambique’s northern coastal provinces of Nampula and Cabo Delgado early Saturday, damaging buildings, mines and knocking out power, officials said.
Mozambique’s weather office said the storm was expected to bring thunderstorms and strong winds with gusts of up to 260 kilometers (160 miles) per hour to some parts of the provinces.
More than 250 millimeters (10 inches) of precipitation were expected in 24 hours, it said.
‘Damage already recorded’
“In Cabo Delgado, damage has already been recorded, such as the collapse of walls and roofs,” ActionAid Mozambique said in a statement.
The impact in Nampula’s Memba district, around where the cyclone made landfall, was expected to be significant but it was out of contact, the non-government group said.
“Several neighborhoods in Nampula province are without electricity, which can make it difficult to collect information,” it said.
UNICEF said “many homes, schools and health facilities have been partially or completely destroyed.”
Weakens
It was assessing the impact and would be delivering medicines, water purification supplies and other essentials, it said in a statement.
By the afternoon Chido was travelling over the inland province of Niassa and had weakened, said the president of the National Institute for Risk and Disaster Management, Luisa Meque.
The institute had not been able to reach all regions to assess the situation, she said.
Officials have warned that Chido has a similar intensity to Cyclone Gombe that killed more than 60 people in Mozambique in 2022 and Cyclone Freddy that claimed 86 lives in the country in 2023.
Expected to reach Malawi
Freddy also claimed 326 lives in Malawi, according to UN figures.
Chido is expected to reach Malawi by Monday, bringing significant rainfall to the country which has been suffering from drought. Zimbabwe has also issued an alert for heavy rains associated with the cyclone.
The cyclone killed at least 14 people in Mayotte, authorities said on Sunday, warning it would take days to know the full toll….”
I reference, in part, the following recent quote in the trades: “…A large part of the problem is that rough ruby sources in the world are limited …In the 1960s and ’70s, Thailand and Cambodia were major sources, but they dried up. So did other locations: Kenya and Malawi. Extremely few goods now come out of Burma (Myanmar) now due to the country’s continuing ‘military rule’, …and Greenland Ruby mining shuttered its operations and put the business up for sale.
This leaves only Mozambique’s Gemfields northern mines and one other as the major rough ruby producers now, and it’s hard to know how long these mines will last …”
With Cyclone Chido’s damage to the country’s mines Sunday, the price at Mozambique “rough” ruby auctions will be considerably higher, and availability will decrease sharply, …placing our “rough” ruby cut/polished pieces at a premium by wholesale buyers at auction, March 2024.
Recent Comments