Myanmar Discovers Second-Largest Ruby

Miners in Myanmar discovered an 11,000-carat ruby, the second-largest by weight ever found in the nation, near Mogok in mid-April. This ruby is considered more valuable than a larger stone found in 1996 due to its superior color and quality. Myanmar produces up to 90% of the world's rubies, and the gem trade is a major revenue source for the nation, including its military governments and ethnic armed groups. President Min Aung Hlaing and his Cabinet inspected the ruby. Human rights organizations like Global Witness have urged jewelers to stop purchasing gems from Myanmar due to the industry's role in funding conflict. The security of mining regions remains volatile, with the National Liberation Army briefly capturing Mogok in July 2024 before control was transferred back to Myanmar's army through a China-mediated ceasefire.