Mozambique’s prolific ruby deposits continue to anchor the global market for this gem. The country’s steady and reliable supply gives businesses significant opportunities to meet consumer demand. However, jewelers and manufacturers seeking to diversify their supply chains have other options in smaller-scale miners and local suppliers from Burma (Myanmar), Madagascar, Vietnam, Tajikistan, Kenya and Tanzania.
Considering their usually smaller yields, limited mining operations and less-consistent production, these alternative deposits may not fulfill large-scale market demands. However, they hold strategic value in appealing to bespoke and niche markets.
The pros and the cons
Jeremy Hakimi of gem dealer Colorline occasionally purchases rubies from locales such as Madagascar, Myanmar and Thailand. However, there are challenges surrounding these sources, particularly in Thailand and Myanmar, he says. “The mines in Thailand don’t really produce anymore. The secondary color of Thai rubies is also a bit purplish when compared to Mozambique and Burmese materials, which makes them less desirable.”
Although Burmese rubies are historically the gold standard for quality, factors such as political conflict, trade embargoes, sanctions, and traceability and ethical concerns have complicated sourcing, making the country a contentious choice for suppliers and ethically conscious brands. “The demand for Burmese rubies has fallen as some larger companies have stopped dealing with them,” relates Hakimi. “Compared to fine Mozambique rubies, Burmese rubies are substantially more expensive, as they are rare at the moment.”
For Simon Dussart, origin is not a principal factor. “I source from anywhere, so long as nice gems are available,” says the founder of Bangkok-based dealer Asia Lounges. “Be it Afghanistan, Tanzania, Kenya, Vietnam, Madagascar, Tajikistan or the occasional Sri Lankan stones, what matters to me is how nice the stone looks rather than its origin — and of course, whether it’s treated or not.”
It ultimately comes down to one’s client base — whether dealers require larger quantities or just a few stones. Dussart specializes in one-off gems, which gives him greater flexibility in sourcing. “I don’t need to worry about serialization,” he explains. “If I needed to rely on substantial and consistent supplies, I’d mostly be limited to Mozambique or Burmese gems, as other deposits aren’t producing enough material.”
Price-friendly color options
Looking beyond traditional sources, Dussart says, “I’ve seen some exceptional Afghan and Vietnamese rubies lately, so if I had to focus on sourcing, those would be strong contenders. Some of the finest rubies I’ve ever encountered were Tanzanian and Malagasy” — the term for stones from Madagascar. “They are rare, but when you find high-quality examples, they are absolute showstoppers.”
Hakimi, however, hasn’t seen any emerging ruby sources that can compete with Mozambique material. For this reason, the prices of fine Mozambican rubies have drastically risen in recent years. “Specifically, fine unheated Mozambique rubies over 3 carats have doubled to tripled in the past few years since Covid-19,” he reports. “There is high demand for the fine stones, and there really isn’t any appealing alternative from other regions.”
With supplies dwindling and production struggling to meet global demand, prices are steadily rising regardless of origin. To navigate these sourcing challenges, Dussart recommends considering pinkish rubies. Afghanistan, Tajikistan, and Sri Lanka are among the locales producing pinkish specimens. Afghan rubies, particularly from the Jegdalek region, are known for their slightly pink or raspberry-red hues.
These alternate colors are “generally livelier under any lighting conditions,” according to Dussart — a valuable quality for jewelry, which people often wear in environments with less-than-ideal lighting, like restaurants or functions. “A lighter stone will almost always outperform a deeper-colored gem in these conditions. They also trade at a much gentler price tag than their top-colored counterparts.”
Eye on Tajikistan
Tajikistani rubies, from deposits like Snezhnoe, are generally less available on the market than rubies from Myanmar, Mozambique and Madagascar, and this influences their pricing. Known for their bright-red to slightly pinkish-purple undertones, these rubies can resemble the coveted pigeon’s blood color that characterizes the finest stones.
“When available, high-quality Tajikistan rubies can command competitive prices, especially for their rich red hues and fine clarity,” says Dzhamshed Gulmamadov, manager of Pamir Gems, which specializes in gemstones from the region. “However, they typically fall below the premium pricing of Burmese rubies, [which are] renowned for their historical prestige and pigeon’s-blood red color. Mozambican rubies, often more abundant, can offer a broader price range, while Madagascar rubies tend to be priced lower due to their lighter tones and market perception.”
Tajikistan’s limited mining infrastructure and lack of formal regulations make extraction and transportation difficult, contributing to the complex and unpredictable nature of ruby sourcing there. However, the “rich color quality and natural beauty” of its stones make the country a potential alternative to traditional ruby sources like Burma, maintains Gulmamadov. “If production stabilizes, they could diversify the global supply, reducing dependency on limited regions.”
Main image: The Pamir mountains in Tajikistan, known for their ruby deposits. (Shutterstock)
