Record-Breaking Mozambican Ruby Fetches $34.8 Million at Auction

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In a historic sale, the largest ruby ever to be brought to auction has been sold in New York for an astounding sum of $34.8 million (£28 million).

Sotheby’s, the renowned auction house, described the 55.22-carat gem as a “once-in-a-lifetime” jewel. The remarkable ruby originated from a mine in Mozambique, where vast deposits of the precious gemstone are found in the northern region of the country. It is an exceptional find, as polished rubies weighing over five carats are exceedingly rare.

Named “Estrela de Fura,” meaning “Star of Fura” in Portuguese, after the mine where it was discovered, the rare gem captivated Quig Bruning, head of Sotheby’s Jewellery in New York, upon his first encounter with it.

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Bruning expressed his enchantment, highlighting the stone’s unprecedented size, vibrant color, remarkable optical transparency, and clarity. The gem has now earned its place among the world’s most legendary gemstones.

The Mozambican ruby mine operated by Fura is located in the Montepeuz district of Cabo Delgado province. Unfortunately, this region has been plagued by an Islamist militant insurgency since 2017. The violence in Cabo Delgado has hindered local development despite the area’s rich, untapped mineral resources.

To address this issue, a portion of the proceeds from the sale of the Estrela de Fura will be allocated by Fura to establish an academy. This academy will provide technical training in various fields, including mining, engineering, carpentry, and agriculture, aiming to create opportunities and uplift the local community.

The sale of this extraordinary ruby not only marks a significant milestone in the gemstone market but also presents a glimmer of hope for the troubled region of Cabo Delgado, where the struggle for stability and economic growth continues.

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