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A massive ruby unearthed in Burma is being hailed as the second-largest ever discovered in the conflict-ridden country. The ruby weighs about 11,000 carats — about 4.8 pounds — and was unearthed near Mogok in the Mandalay region, the center of Burma’s gem industry and an area affected by ongoing conflict, according to The Associated Press, citing state media.
The stone was found in mid-April, shortly after the country’s traditional New Year celebrations. MAN STUMBLES ONTO RARE DIAMOND TREASURE DURING ARKANSAS PARK TRIP WITH FAMILY: 'KNEW IT WAS DIFFERENT' Although it is roughly half the size of a 21,450-carat ruby discovered in 1996, experts say the new find could be more valuable because of its higher quality, the outlet reported. It has a purplish-red color with slight yellow tones, moderate transparency and a highly reflective surface.
Burmese President Min Aung Hlaing and his cabinet have already inspected the stone in the country's capital of Naypyidaw. ONCE-IN-A-CENTURY TREASURES DATING BACK 4,500 YEARS UNEARTHED IN LEGENDARY CITY Burma produces up to 90% of the world’s rubies, mostly from Mogok and nearby Mong Hsu. The gem trade — both legal and illegal — is a major source of income in the country.
However, rights groups, including Global Witness, have long urged jewelers to avoid buying Burmese gemstones, saying the trade helps fund the country's military governments, according to The Associated Press. RARE 10-CARAT BLUE DIAMOND AMONG $100M WORTH OF GEMS GOING UP FOR AUCTION Gem mining also finances ethnic armed groups fighting for autonomy, contributing to Burma’s long-running conflicts. CLICK HERE TO DOWNLOAD THE FOX NEWS APP The mining regions remain unstable.
Mogok was seized in July 2024 by the Ta’ang National Liberation Army , an ethnic armed group. Control later returned to the military under a ceasefire deal brokered by China late last year. The Associated Press contributed to this report.
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