【Mozambique; 】A Once-in-a-Century Discovery: Estrela de Fura, the World’s Most Gem-Quality Ruby

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Editor’s Note

This article reports on the unveiling in Dubai of the “Estrela de Fura,” a 101-carat rough ruby now recognized as the world’s largest gem-quality specimen.

ruby estrela de fura
World’s Largest Gem-Quality Ruby Unveiled in Dubai

Jakarta – The world’s largest gem-quality rough ruby stone was unveiled in Dubai, United Arab Emirates, on Wednesday.

Known as Estrela de Fura (Star of Fura) in Portuguese, it weighs 101 carats. The unveiling ceremony took place at the Almas Tower, Jumeirah Lakes Towers, led by Ahmed Bin Sulayem, CEO and Executive Chairman of the Dubai Multi Commodities Centre.

A Once-in-a-Century Stone

The stone has been described as a once-in-a-century discovery. “This stone, recently unearthed in Mozambique by mining company Fura Gems, is extremely significant,” Fura Gems CEO Dev Shetty told National News.

“Nothing like this has been seen for over a century, but we are very happy. This is a once-in-a-century stone,” he said, as reported on September 16.

Fura Gems, established in 2017, was founded to focus on mining colored stones such as emeralds, rubies, and sapphires.

“We mine emeralds in Colombia, rubies in Mozambique, and sapphires in Australia. Recently, we also started mining in Madagascar,” he said.
The Moment of Discovery

On July 24, at the Fura mine in Mozambique, the company’s sort master, Balbir, opened the key to a storage box and saw something large, red, and lustrous. When sunlight hit it, the color turned a vivid red.

Balbir immediately called Shetty, who was in Bangkok, and said, “I think I’ve found something special.”

Unprecedented Quality and Size

Since then, the stone has been examined by several industry experts, including one of the world’s largest and most respected institutions, the International Gemological Institute in Antwerp. The consensus is that this ruby possesses a quality and size not seen for decades.

“There was a lab that came back to me and said, ‘I’ve been examining the finest for 20 years, and I’ve never seen anything like this,'” he added.
“It’s truly fascinating. In terms of fluorescence, color, and transparency, no one has ever seen anything like this,” he said.

When cut, it is expected to yield a 50 or 60-carat gem-quality ruby.

Exponential Value and Rarity

Regarding its value, Shetty declined to offer a price, choosing instead to leave it to market forces.

To indicate value, in 2015, Sotheby’s auctioned a ruby of similar quality. Called the Sunrise Ruby, it weighed 25.59 carats and sold for over $1 million per carat. A few years later, Shetty said the price of ruby stones had doubled.

“The price increases with every 10 carats, so 20 carats has an exponential value over 10 carats, then 30 carats, 40 carats, and so on. If it’s a 50-carat stone, it’s just mathematics,” he said.
“Rubies over 10 carats are much rarer than diamonds or colored diamonds, and I am honored to be able to unveil this stone,” he said.
The Sale Process Begins

Now, the serious business of selling this uncut treasure begins. For the next 45 days, the rough ruby will be on display, and a small group of selected potential buyers will be invited to come and conduct evaluations.

Each individual will be given two days to calculate the ruby’s value, and Shetty believes buyers will step forward.

“Anyone can buy this. It could be a slaughterhouse, a jewelry brand, a collector, or even a museum,” he explained.
“This is a historic moment for us, for my company, and for Mozambique. I am very happy and proud of Mozambique. It deserves all the credit,” Shetty concluded.
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⏰ Published on: October 29, 2022