Myanmar says massive 11,000-carat ruby discovered in Mandalay

Myanmar said Friday it had discovered a massive 11,000-carat ruby, one of the largest ever found in the country renowned for its precious gemstones.

Unearthed in the Mogok area, the ruby was “exceptionally large, rare, and difficult to find,” the new military-backed government said in a statement.

“The giant ruby has a purplish-red colour with yellowish undertones and is considered to have a high-quality colour grade,” it added.

While smaller than a similar 21,450-carat ruby found in the same area in 1996, the recently discovered stone is more valuable “due to its superior colour, clarity, and overall quality,” the government said without giving a precise value.

Emperors, kings, and warlords have long fought over the valley of Mogok in the Mandalay region, where the unique “pigeon-blood” stones lie hidden.

The Mogok rubies are the most expensive in the world, with the highest-quality jewels fetching multi-million-dollar prices in an industry notoriously bereft of regulation.

Myanmar has been ruled by a junta since a 2021 coup that triggered a civil war, but its former military chief was sworn in last month as civilian president after a tightly restricted election.