Coin Press - Myanmar says massive 11,000-carat ruby discovered

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 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 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 former military chief Min Aung Hlaing was sworn in last month as civilian president after a tightly restricted election.

C.Smith--CPN