Ruby prices are already up since the ban. The last Burma rubies to enter the market were substantially higher than in price. The only factor which might temporarily mitigate US price increases is the fact many gemstone dealers recently brought their goods into the US to beat the embargo. ...
Local miners stated that the Songea mining area was discovered in 1991, when a local farmer gave some stones he found in his rice field to Indian and Arab rice dealers in Songea town. They later sold these stones to Thai gem dealers in Dar Es Salaam and the rush was on. The first Tha...