Chamila Suranga, a gemmology researcher attached to Gemological Institute of Ratnapura inspects a 310 kilograms (683 pounds) heavy natural corundum blue sapphire at a residence where it is kept in Horana, about 41 kilometers (25 miles) south of Colombo, Sri Lanka, Sunday, Dec. 12, 2021. A gem company in Sri Lanka has unveiled the massive gemstone that is certified as a rare and one of the biggest corundums found in the country and plans to offer it to museums and gem collectors. (AP Photo/Eranga Jayawardena)
A gem company in Sri Lanka has unveiled a rare and massive gemstone weighing 683 pounds (310 kilograms) that has been certified as one of the biggest corundums ever found in the country.
Sri Lanka's National Gem and Jewelry Authority says it has done a series of gemological tests on five samples taken from the rock.
“To our knowledge this specimen is indeed a rare specimen and not recorded in the geological literature," read an authentication letter given by the authority to the owners who unveiled the stone on Sunday.
When the outer layer was removed for inspection, the interior showed a silky blue patchy appearance, the letter said, suggesting the stone is a blue sapphire.
Shanka Ruwanditha, a director of the company that currently owns the massive stone, the Gemological Institute of Ratnapura, told The Associated Press on Monday that the owners plan to obtain the services of a local or foreign gem valuer soon to determine the price of the rock.
Sri Lanka and especially its southwestern city of Ratnapura, or the Gem City in the local language, has been known for centuries for mining gems and precious stones.
Wealthy individuals and industry leaders are driving soaring sports team valuations, fueled by private equity and growing interest in leagues like the WNBA.
The incoming Fed decision will likely be good news for consumers with high-yield saving options, but bad news for borrowers (like anyone with high credit debt).
Empower your financial future with 'Investing Is Your Superpower' by Shinobu Hindert. Learn how to take control of your finances. No economics degree required
Inflation is still high, and economic activity is starting to slow down. But before you start to panic about stagflation, wait to see this week’s jobs report.
With buildings responsible for over 40% of emissions worldwide, the CEO of Kelvin breaks down how its technology can be used to retrofit traditional radiators.