Mozambican 55.22-carat gem sells for record price ...

Mozambican 55.22-carat gem sells for record price in New York

The biggest ruby ever to come to auction has been sold in New York for a record sum of US$34.8m.

Sotheby’s, which auctioned the 55.22-carat gem, described it as a “once-in-a-lifetime” jewel.

The original rough stone weighed a staggering 101 carats when it was found last year in a mine in Mozambique, where there are vast ruby deposits in the north of the country.

Polished rubies of more than five carats are extremely uncommon.

The rare gem has been called “Estrela de Fura”, meaning “Star of Fura” in Portuguese, named after the mine in which it was found.

Quig Bruning, head of Sotheby’s Jewellery in New York, said when he first saw the stone he was entranced, the Press Association reports.

“With its unprecedented size, piercing colour and rare degree of optical transparency and clarity, it truly deserved the record-breaking price today, as it now joins the ranks of the world's most legendary gemstones.”

Fura’s Mozambique ruby mine is in Montepeuz district in the province of Cabo Delgado, where an Islamist militant insurgency has raged for the last few years.

Cabo Delgado is one of Mozambique’s poorest regions, but it is rich in untapped mineral resources.

Analysts suggest the insurgency, which began in 2017, was fuelled by frustration about the lack of local jobs.

Troops belonging to the regional bloc Sadc deployed to the region in 2021 to fight the jihadists, notorious for their brutal attacks. Their power had grown to the extent that they controlled key towns in the province.

The regional force has helped the Mozambican army regain control of the towns and the violence has reduced, but the militants are known to still operate at a low level.

Sotheby's says a portion of the proceeds from the sale of the Estrela de Fura is being allocated by Fura to set up an academy to provide technical training in the fields of mining, engineering, carpentry and agriculture. - BBC