A giant 11-carat ruby has been discovered in Myanmar's Mogok Valley, a region known for its gemstones but also embroiled in armed conflict in recent years.
The extraordinary stone weighs 2.2 kilograms, about the size of a small dog. It is considered one of the largest stones ever discovered in Myanmar, a country known for its ruby production for centuries.
Myanmar's military-backed government says that, thanks to its rare "pigeon blood" color and high quality, this could be the most valuable ruby ever found in the country.
Although it is half the size of the record-breaking 21,450-carat ruby discovered in the same area in 1996, the new stone could be worth more due to its quality and color. It has not yet been officially appraised, but according to the International Gem Society, high-quality rubies can fetch up to $1 million per carat.
Authorities describe the stone as “extraordinarily large, rare and difficult to find.” According to them, the ruby is red to purple in color, with yellow undertones, and is classified as a high-color quality stone.
Rubies are natural crystals of red corundum, and their value is determined primarily by size, color, and clarity. Most rubies weigh one or two carats, while stones over three carats are considered extremely rare. For this reason, very large stones can be worth much more than their quality alone would suggest.
Gemstone dealers say that the most sought-after rubies are those with an intense, deep red color. The purer and stronger the color, the higher the price. At the top of this category are rubies called “pigeon blood,” which have a vivid, almost fluorescent red.
The majority of these rare stones come from Myanmar, which produces about 90 percent of the world's rubies. They are usually found in the Mogok and Mong Hsu valleys, areas where the gemstone has been mined for more than 800 years.
Myanmar has a long history of major discoveries. Among the most famous stones are the 2,789-carat “NaSaKa” ruby, found in 2022; the 21,450-carat stone discovered in 1996; and the 496-carat ruby from 1990, associated with the former State Council for the Restoration of Law and Order.
Stones of this size and quality can fetch staggering sums at auction. For comparison, the 14.62-carat Oppenheimer Blue diamond sold for $57.5 million in 2016, while the 11.15-carat Williamson Pink Star diamond sold for $57.7 million in 2022.
Myanmar authorities say that, although the 1996 ruby was the largest by weight, the recently discovered stone may be more valuable due to its superior color and quality.
But the discovery comes in a complex political and human context. The Mogok region, where all these large stones were found, has been engulfed in fierce fighting between the army and ethnic minority forces.
In 2024, the area was taken over by the Ta'ang National Liberation Army, a guerrilla force representing the Palaung ethnic minority. Later, under a China-brokered agreement, control of the mines was returned to the military.
Security in Myanmar's mining areas has deteriorated in recent years as armed groups and powerful local figures fight for control of lucrative gemstone regions. These stones are sold legally or smuggled out of the country to finance the conflict.
Human rights organizations, including Britain-based Global Witness, have called on jewelers not to buy rubies from Myanmar, arguing that their trade has served as an important source of income for the repressive military government. /GazetaExpress/
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