Hi Dan1,
I just went to the AFR website to the same article - and found in this version additional words had been added at the end of your cutout. I have inserted them in green.
Second I obtained in March from the Gemfields website an estimated 2017 and 2018 rough rubies production
from Mozambique: 12.0m c and 20.0m c respectively.
Below are the results of my calculations as to how much (or how little) MUS will compare to Gemfields over the next (my guesstimate) 18 months in rough rubies production -
AFR online version - end bit
Mr Jordaan said he was confident rough auctions would generate better returns and that Mustang's entry into the market would not hamper prices.
"We are confident there is more than enough room for our supply in an organised sales process that can supply the market and stimulate sizeable growth from where it is today as a $US2 billion per annum industry."
However a portfolio manager familiar with gemstones, who declined to be named, said Mustang could face challenges auctioning its stones in a market dominated by a large and well-established competitor.*
* My response to this article's last sentence:
[ How MUS will affect TOTAL 2017 & 2018 Mozambique rough rubies production ]
Estimated MUS 2017 production (sales) - 200k carats/
FORECASTED GEMFIELDS 2017 production 12.0 m carats
MUS as % of GM 2017 production 0.2/ 12.0 = 1.66%
My guesstimate of MUS 2018 production Mar 2018 - 300k carats AND SAY Oct 2018 - 500k carats
FORECASTED GEMFIELDS 2018 production 20.0 m carats =
MUS as % of GM 2018 production 0.8 / 20.0 = 4.0%