Ruby is a rosy, blood-red colored stone belonging to the class of mineral corundum, aluminum oxide. The value of ruby is measured by its color, clarity, cut and carat weight. The stone is currently available in Mozambique, where it is mined and traded directly to the market through auction.
Due to the existing trade restrictions against Burmese Rubies in the U.S., Mozambique’s Red rubies have become very popular in the American market. Other African countries that produce Ruby include Madagascar, Tanzania and Kenya.
African rubies can be opaque, translucent or transparent. The more transparent a stone is the higher its value. Currently a carat of Ruby costs between $100 and $15,000 depending on its origin, color, and clarity.