Myanmar has announced the discovery of a massive ruby weighing 11 000 ct (2.2 kg), a rare find even for the country’s central gemstone hub of Mogok near Mandalay.
The purplish-red stone, found after the new military-backed government took office in April, is “exceptionally large, rare, and difficult to find,” according to a statement from the Ministry of Information on Friday. Due to its color grade and quality, it’s considered more valuable than a 21 450-carat ruby found in the same town in 1996, the ministry said, without specifying an estimated value.
Myanmar is known as a source of precious stones and jade, and illegal mining is rampant across the country whose economy has been crippled by years of civil war and oppressive military rule. A widely-criticized general election was held in military-controlled areas between December and January, with major opposition parties including Aung San Suu Kyi’s National League for Democracy banned from contesting polls.
It was unclear who found the 11 000 ct gem, but regulations require miners to report valuable finds to the central government, which is now led by former military leader Min Aung Hlaing.
Mogok in the Mandalay region has been the site of major gemstone discoveries in the past few decades, including rubies weighing 496 ct in 1990 and 2 789 ct in 2022, according to official data.
In 2015, a 25.5 ct Burmese ruby sold for a price of $30.3-million at a Sotheby’s auction in Geneva.