Myanmar says giant 11,000-carat ruby found in Mogok could rank among most valuable

A huge 11,000-carat ruby has been discovered in Myanmar, state media reported Friday, one of the largest ever found in the country renowned for its precious gemstones.

Coup leader turned president Min Aung Hlaing was pictured on the front page of the state-run Global New Light of Myanmar newspaper, examining the 2.2-kilogram (4.8-pound) rock at his office.

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 color with yellowish undertones and is considered to have a high-quality color 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 color, 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 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 multimillion-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 former military chief Min Aung Hlaing was sworn in last month as civilian president after a tightly restricted election.

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