As Elizabeth Taylor once said: �I adore wearing gems, but not because they
are mine. You can't possess radiance, you can only admire it.�
It�s a good philosophy, because when it comes to the world�s biggest,
rarest and most extraordinary gemstone discoveries, no one�not even
billionaire President Donald Trump�could afford the possession.
We�re not talking about the average diamond engagement ring that sets you
back $4,000 and was probably grown in a lab. And we�re not talking about the
$3,000 ruby that was probably treated.
We�re talking about the rarest gemstones in the world, like the �Guinness
Emerald� that came out of Fura Gems� Coscuez emerald mine in Colombia, where
excavation has only reached 10% and the next gem of the century is just
waiting to be discovered.
Every year, the mining industry grows by hundreds of billions of dollars.
The global economy is booming and demand for precious jewels, particularly
colored gemstones, has never been higher.
That means that the greatest discoveries have yet to be made.
Here are just five examples of stones that broke all the records:
#1 �Star of Adam� Blue Star Sapphire�$100-300 Million
The world�s largest blue sapphire was discovered in Sri Lanka in early
2016. Named the �Star of Adam,� the massive stone weighs an incredible 1,404
carats.
The stone is a blue �star� sapphire, so named due to the bright
six-pointed star that appears whenever light is reflected on the stone�s
surface.
Estimates of the stone�s value range from the $100-$175
million range to as much as $300
million.
This single stone is worth the annual gem industry of Sri Lanka, which
averages $103 million
per year in exports.
Interest in blue stones increased worldwide after the royal wedding of
Kate Middleton and Prince William in 2011. Middleton wore a 12-carat blue
sapphire engagement ring, piquing interest in the stones and sending demand
upwards.
But the royal stone has nothing on the massive Star of Adam.
#2 Guinness Emerald�$500 million
Here�s a stone so grand, it made it into the Guinness Book of World
Records.
The 1759-carat
emerald was discovered at the Coscuez mine, owned by Fura Gems. It was
for several years the largest un-cut emerald on earth.
Only 10 percent of the Coscuez mine has been explored, which means there
could be several stones like the Guinness Record emerald locked underground.
Fura Gems recently announced its total
take over of the Coscuez mine. For only $10 million, the company took
possession of a mine that could yield hundreds of millions of dollars� worth
of emeralds just like the Guinness Emerald.
The stone, in its un-cut form, could be worth $17 million, at a valuation
of $9,800 per carat.
But once it�s been cut, it could sell for a whole lot more. An 18-carat
emerald ring, for example, sold at auction in June 2017 for $5.5 million.
That means the Guinness Emerald could be worth more than $500 million to
the right buyer.
Right now, the stone is resting
comfortably in the Banco Nacional in Colombia.
#3 Chaiyo Ruby�$448 million
This mysterious stone has quite the back-story.
The Chaiyo Ruby is an enormous gemstone weighing 109,000 carats: that�s
roughly the same weight as a seven or eight-year old child.
The stone has been valued at approximately
�320 million, or about $448 million.
The ruby came out of a mine in south Asia, though where it was mined
exactly is subject to considerable debate: both Myanmar and Thailand dispute
ownership.
There have also been accusations that the stone is a fake, that it was manufactured in
Myanmar.
In fact, the stone is so mysterious, its current whereabouts are unknown.
It vanished in the early 2000s, and may be sitting in a safety-deposit box in
Laos. Some rumors speculate that it was stolen from its original owners by
members of the Myanmar military.
Whatever the truth is, it�s certain that this massive stone is one of the
rarest and richest finds of the recent era.
#4 Bahia Emerald�$250-$925 million
The
world�s largest emerald ever uncovered in a single shard, the Bahia
Emerald weighs approximately 1.7 million carats, or 752 lbs. It was
discovered in the Bahia region of eastern Brazil.
The huge stone, which currently sits in a vault in Los Angeles, could be
worth as much as $925 million.
The incredible stone was stored for a time in New Orleans, and was nearly
washed away by the flood waters of Hurricane Katrina in 2005.
Like the Chaiyo Ruby, the Bahia Emerald is shrouded in mystery. After
surviving Katrina, the stone was stolen from a secure vault in South El Monte
in Southern California in September 2008.
After the theft, the stone was tracked down and is now in the middle of a bitter
legal battle to determine rightful
ownership.
Eventually, the Bahia Emerald was awarded to FM Holdings in June 2015. But
then the government of Brazil insisted it had been mined illegally, and that
it rightfully belong to Brazil. That got the case started all over again.
Today, the world�s biggest emerald sits in an evidence vault at the LA
sheriff�s office. Who knows when it will see the light of day.
#5 Letseng Diamond--$50-$100 million
In the tiny African country of Lesotho, a massive recent discovery was
made: a 910-carat colorless, pure diamond.
The 6.4 ounce stone is about
the size of two golf balls, but don�t let the size fool you: it could
easily be worth tens of millions of dollars to the right buyer.
Another stone discovered by the same company sold for $20,000/carat.
Analysts say the Letseng diamond could be worth as
much as $40 million, and possibly much more.
Colorless diamonds, which have no visible impurities, are very rare. They
are also in high demand from jewelers.
The Letseng stone has almost
no nitrogen in its composition. Nitrogen can give diamonds a yellow hue,
so the stone�s colorless look will make it shine much brighter once it�s been
cut and polished.
And a stone of this size could easily yield a number of smaller stones,
cut into various jewelry.
The largest diamond in history, for example, was the 3,106-carat Cullinan diamond
discovered in 1905. It was later cut into nine large stones and more than 100
smaller ones.
This recent discovery makes it clear that huge value awaits to be unlocked
by the world�s leading mining firms. Worldwide, mining firms added
$141 billion to their value last year.
And with specialized companies like Fura
Gems at the forefront, there are sure to be huge, exciting discoveries.
The world�s largest and most valuable diamonds and gemstones are waiting to be
uncovered.
After all, records were made to be broken.
Honorable mentions:
Freeport-McMoRan Inc. (NYSE:FCX) is a multi-faceted
mining company. The company�s focus is on gold and copper, but also delves
into the realm of refining. With assets spanning the world, Freeport-McMoRan
Inc. has been a long-time leader in the mining sector. As gold comes back
into investors� focus, Freeport-McMoRan�s $28B market cap make this company
one of the biggest players on the scene.
Freeport has seen its stock price go 36% higher in December as a result of
higher copper and gold prices.
Commodity investors should keep Freeport on their radar if gold and copper
prices remain steady in 2018.
Cameco Corporation (TSX:CCO, NYSE:CCJ) is the world�s
largest publicly traded uranium company, accounting for nearly 18 percent of
the world�s uranium production. Cameco made it onto this list of miners due
to its mining expertise and wide range of assets.
Cameco�s operations are primarily based in North America, Kazakhstan, and
Mongolia. Challenged with lower uranium prices, Cameco�s stock has suffered
in the past year, but 2018 is looking promising for the company, with some
suggesting a huge rebound is in sight.
Newmont Mining Corp (NYSE:NEM, TSE:NMC) Founded over 100
years ago, Newmont Mining Corporation is one of the leading mining companies
in the world. The company holds assets in Peru, Australia, Ghana, Indonesia,
Mexico, and around the United States. Primarily focusing on gold and copper,
Newmont has steadily carved out a name for itself among those in the
industry.
Newmont has had an excellent start to 2018, and it is set to keep up the
pace as burnt bitcoin buyers move back to gold and silver.
Kinross Gold Corporation (NYSE:KGC, TSE:K) is relatively
new on the scene, founded in the early 90s, but it certainly isn�t lacking
drive or experience. In 2015, the company received the highest ranking for of
any Canadian miner in Maclean's magazine's annual assessment of socially
responsible companies. With over 30 million ounces of proven or probable gold
reserves, Kinross makes for a solid bet for investors.
The company has managed to outperform the gold miners index GDX as well as
its peers Barrick and Newmont in 2017. Investors should expect Kinross to
come out with its 2018 production guidance in early February 2018.
Agnico Eagle Mines Ltd (NYSE:AEM; TSE:AEM) Canadian based
gold producer, Agnico Eagle Mines is an especially noteworthy company for
investors. Why? Between 1991-2010, the company paid out dividends every year.
With operations in Quebec, Mexico, and Finland, the company also is taking
place in exploration activities in Europe, Latin America, and the United
States. This is certainly a company with tremendous potential that grows
better by the day.
Investors have certainly taken note. In the past month, Agnico has seen
its share prices climb steadily, and 2018 looks to be shaping up to be a
promising year.
By Charles Kennedy
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