Rare Mozambican ruby sold for $34 mln

A rare 55.22-carat ruby found in a Mozambican mine has been auctioned in New York by Sotheby’s for $34 million on Thursday.

The ruby, which was given the name Estrela de Fura, or Star of Fura in Portuguese, is the biggest to ever be auctioned, with Sotheby’s calling it a once-in-a-lifetime jewel.

“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 theura, Mozambique world’s most legendary gemstones,” said Quig Bruning, head of Sotheby’s Jewellery in New York.

The ruby was found in a ruby mine in Fura, Mozambique, in the province of Cabo Delgado, which is one of Mozambique’s poorest regions despite being rich in untapped mineral resources.

Sotheby’s added that a portion of the Estrela de Fura ruby’s sale proceeds are being allocated by Fura to set up an academy to provide technical training in the fields of mining, engineering, carpentry, and agriculture.