Myanmar Unearths 11,000-Carat Ruby, 2nd Largest

Miners in Myanmar unearthed an 11,000-carat ruby near the town of Mogok in the upper Mandalay region in mid-April, state media reported Friday. The rough stone, weighing 2.2 kilograms or 4.8 pounds, ranks as the second largest by weight ever found in the country, surpassed only by a 21,450-carat ruby discovered in the same area in 1996.

According to the state-run Global New Light of Myanmar, the newly found ruby holds greater value than its predecessor due to its superior color and quality. It features a purplish-red hue with yellowish undertones, a high-quality color grade, moderate transparency and a highly reflective surface. President Min Aung Hlaing, the army chief who led the 2021 military takeover and was installed as civilian leader following elections this year, examined the gem alongside his Cabinet at his office in the capital, Naypyitaw.

Mogok lies at the heart of Myanmar's gem-mining industry, which produces up to 90 percent of the world's rubies, mainly from the Mogok and Mong Hsu areas. Legally traded and smuggled gemstones generate significant revenue for the country. Mining operations also fund ethnic armed groups seeking autonomy, contributing to decades of...