ASEAN Beat | Politics | Southeast Asia

2 Kilogram of Ruby Unearthed in Myanmar’s Mogok Mining Town

The country’s military government has claimed ownership of a rock worth millions of dollars.

An aerial view of the town of Mogok, a ruby-mining center in Mandalay Region, Myanmar.

A ruby weighing in at more than two kilograms has been found in Myanmar, with some estimates valuing the rock at millions of dollars, a testament to a warning by United Nations experts that this country’s gem mining industry is bankrolling the military’s civil war.

Unearthed near the town of Mogok, in the heartland of the lucrative gem-mining industry in upper Mandalay Region, the ruby measured 11,000 carats, or 2.2 kilograms, according to the Global New Light of Myanmar, the mouthpiece of the military government.

The “antique giant” was inspected by the military’s anointed President Min Aung Hlaing and his acolytes, the news outlet reported, noting that it was discovered after his government was elected “by the people through free and fair multiparty democratic general elections.”

That election, which took place in three phases in December and January, was widely derided as a sham, creating a path for Min Aung Hlaing to retire as chief of the junta and trade in his military uniform for a suit and tie after he was named “president” of a civilian administration.

But the ruby has generated enormous interest for its color and size and might fetch far more than a general market rate of about $500 a carat, valuing the stone at a minimum of $5 million. But some estimates say it might only be worth $100 a carat.

“The giant ruby has a purplish-red color with yellowish undertones and is considered to have a high-quality color grade. It also has moderate transparency, excellent vitreous luster, and remains in its natural state without any treatment or enhancement,” the New Light added.

Mogok is a strategically located ruby mining hub and has witnessed fierce fighting for control of its lucrative gem mining business. In mid-2024, the Ta’ang National Liberation Army and People’s Defense Forces seized the area after the opposition Three Brotherhood Alliance went on the offensive.

But control reverted to the military last November amid Chinese mediation. The latest find........

© The Diplomat