ShareSaveBETAThis is a BETA experience. opt-out hereInnovationScience$309 Million Emerald Weighing Nearly 800 Pounds Was Just Found in BrazilByTrevor Nace
Forbes contributors publish independent expert analyses and insights
The largest emerald in the world found in Bogota
A massive 794-pound emerald was unearthed recently by miners inside the Carnaiba Mine in Brazil
This incredible emerald specimen stands 4.3 feet tall and is valued at approximately $309 million
The emerald is now owned by a private party
who has decided to not reveal his identity or location out of fear for his family's safety
the owner intends to frequently move the emerald cluster from one secure location to another
The owner is finalizing legal paperwork declaring his ownership of the specimen
Third parties around the world have already stated their interest in buying the emerald
although it is not clear if the owner will sell the emerald or display it in a museum
The emerald was found in an area of Brazil known to produce magnificent gems
the Carnaiba Mine within the state of Pernambuco
The cluster of gems was found 200 meters deep in the mine and required 10 people a full week to extract and lift the cluster to the surface
This specimen is composed of in total 180,000-carats of emerald beryls
experts estimate that the entire specimen could be worth $309 million
It was found by miners who belong to the Bahia Mineral Cooperative
a cooperative of miners legally approved to mine in the area
Each person in the cooperative of miners was paid for their share of the emerald by the private party
it is unlikely that it will be cut down to form jewelry
it will likely end up as a showcase in a wealthy home or on display in a museum
The video below displays the massive emerald
along with the region and mine in which it was found
The cluster was found surrounded by mica schist
This giant emerald wasn't the first found in the Carnaiba Mine
the Bahia emerald was discovered 16 years ago just 100 meters from where this emerald was just discovered
The Bahia emerald is one of the world's largest emeralds and has the single largest emerald shard ever found
The stone weighs approximately 752 pounds and was valued at $400 million
the massive emerald is locked away due to ongoing disputes over ownership
We can hope that this emerald finds its way to a museum so all of the world can see it
One of the largest emeralds to be excavated from a mine in Brazil’s Bahia region at the start of this century
They are bright green and you can guess at their hexagonal shape
The Bahia Emerald is a rare and valuable piece that can be summed up in figures: 380 kilos (837 pounds), 180,000 carats. And it is so exotic that estimates of its worth range from between $370 million and $920 million. The giant gem was taken out of Brazil under false pretenses and eventually confiscated in Las Vegas
justice system resolves the long litigation involving the Brazilian State
a federal judge ruled in favor of Brazil and authorized the gem to be repatriated
Since its discovery in 2001, the life of the Bahia Emerald has been nothing if not eventful. Excavated from a mine in the Carnaíba mountain range
400 kilometers (248 miles) inland from Salvador
where five other giant emeralds have been discovered this century
it has earned a reputation for being cursed
until two Brazilians took it out of the country in 2005
They got it out by claiming it was asphalt stone and natural bitumen
That same year the emerald survived Hurricane Katrina
which flooded the warehouse where it was stored
That year it was sold to the highest bidder on eBay for $19 million
the plot thickened: sales at different prices
the use of the emerald as collateral in a diamond sale..
the police confiscated the Bahia Emerald in an operation in Las Vegas
complete with special forces and a helicopter
it has been at the center of a judicial battle
Innumerable Bahia emeralds have passed through the hands of the gemologist Monica Correa
The black mineral in which the precious crystals are embedded is called biotite
She works with polished pieces for jewelry rather than with the rough stones that attract collectors because of their exuberance and size
you can even see the hexagon shape that emerald crystals have in their natural state,” says Correa
who works at the Gemological Center of Bahia
where she analyzes the purity of gemstones for certification
If the Bahia Emerald is returned to Brazil
it would mark a milestone in the country’s battle to recover pieces plundered centuries ago
Denmark returned an invaluable piece of indigenous art
to the National Museum of Rio de Janeiro: a very delicate red feather cape sewn by the Tupinambá Indians that had been in the Danish royal collection since 1689
Germany’s National Museum of Natural History in Karlsruhe returned the Ubirajara jubatus
the fossil of a dinosaur that lived 110 million years ago in Ceará
which has become the most famous in Brazil thanks to a successful campaign on social media to demand its return from Germany
The case of the Bahia Emerald is as convoluted as a Brazilian soap opera with any number of protagonists
betrayals and a plot that is hard to follow
a number of individuals and companies claiming ownership have been fighting it out in the U.S
The courts have recognized that some of them acted in good faith and were deceived
but none of them have been recognized as having the right to ownership
federal judge Reggie Walton ruled in favor of the Brazilian state
which has also been immersed in a legal battle to recover what it considers a national treasure
Lawyers for the Brazilian Public Prosecutor’s Office adopted a novel strategy
according to Reuters: they called on their U.S
colleagues to comply with the bilateral agreement committing them to enforce Brazilian rulings
The Brazilian magistrate who convicted those who removed the stone from Brazil in 2017 also demanded that it be repatriated
Now Judge Walton has ruled that this be complied with
The Carnaíba mountain range is considered the Brazilian capital of emeralds
It was 1963 when a farmer who was clearing stubble from his field came across some shiny green stones
the news that there were emeralds in the interior of Bahia spread far and wide
An army of garimpeiros (artisanal miners) promptly appeared to mine the earth
It was full steam ahead until the end of the 1970s
when the miners came up against an impassable quartz plate
It was in the 1980s when news of a new emerald deposit in Goiás
reached Pindobaçu and other cities in the highlands
but the most valuable thing for the Bahian garimpeiros was to learn about technological advances from their colleagues in Goiás
They learned to dig beyond the quartz plate
they went back home immediately with this knowledge to extract the precious stones from the interior of Bahia
some 600 miners work in the municipality’s 81 deposits
they extracted 400 tons of the stone in which the precious green gems are embedded
But the biggest prize is the Bahia Emerald ‘sisters.’ Six have been discovered in 25 years
It is not unreasonable to think that if Brazil manages to recover the Bahia Emerald
one option would be to hand it over to the Geological Museum of Bahia
But the museologist Elizandra Pinheiro says that no one has contacted them to discuss this possibility
the emerald has an enormous patrimonial value
“It represents a historical context: the garimpeira community
an economic activity that passes from generation to generation,” explains Pinheiro
who points out that Bahia has already had its diamond
which exhibits the rich geological heritage of the state in the form of meteorites and fossils
in a new unexpected twist in this long saga
it will become home to the cursed Bahia Emerald
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THE world's largest emerald is at the centre of a bizarre battle between America and Brazil
The 840-pound Bahia Emerald — worth a speculated $1 billion and found in Brazil's Carnaíba region — is the size of a fridge and labelled "cursed"
is reaching a critical moment in the US District Court for the District of Columbia
The Bahia Emerald’s story is laden with misfortune
to the point that many believe the massive gemstone is cursed
Since its discovery the stone has narrowly escaped disaster
while others view them as the workings of a sinister curse on anyone who tries to profit from it
discovered what would become one of the world’s largest emerald clusters in Carnaíba’s semiarid mountains
Unlike the prized emeralds of Colombia, Brazilian stones are known for their cloudy appearance and lower value.
Yet, the emeralds found in Carnaíba are also far larger, with the Bahia Emerald being the most astonishing example.
The stone passed into the hands of a local merchant nicknamed "The General," who sold it for a modest $8,000 to two gem prospectors.
where it reportedly sat in a mechanic’s cluttered garage for years
the Bahia Emerald was almost lost in a catastrophic flood as it was transported to São Paulo
but this was only the first in a series of events that marked the emerald as a cursed object
When the prospectors ultimately shipped it to the United States in 2005
its journey through the American gem market was chaotic and marred by scandal
Various speculators saw potential fortune in the massive rock
As amateur investors vied to secure its ownership
each would-be seller saw their financial hopes dashed as deals fell through and new claimants appeared
the stone landed in the hands of Florida gem dealer Jerry Ferrara and his business partner
When the emerald made its way to the United States
it was caught in yet another calamity—this time in New Orleans during Hurricane Katrina
These repeated brushes with disaster have only fuelled the idea of an ominous force attached to it
The curse appeared to manifest more intensely as disputes over the stone intensified
In its early years in the U.S., the Bahia Emerald was stored in a Las Vegas warehouse and then moved to an unmarked facility in Los Angeles
From here, it was reportedly stolen, reappearing in South El Monte, California
in a private warehouse under mysterious circumstances
This marked just one of several bizarre thefts the stone would endure
even claimed that the Brazilian mafia was after him because of the emerald
Biegler told police the rock had been stolen
prompting an investigation that eventually led to the Los Angeles Sheriff’s Department seizing it as evidence
THE Bahia Emerald was discovered in Brazil’s Carnaíba region and later flown to several states in the US
Brazil - Discovery SiteThe Bahia Emerald was mined from the Carnaíba region
This is where the journey began in the early 2000s
Brazil - First Storage LocationAfter its discovery
It was reportedly stored in a cluttered car repair shop here for several years
USA - Hurricane Katrina IncidentThe Bahia Emerald was stored in New Orleans during Hurricane Katrina in 2005
which added to its reputation for surviving near-disasters
the emerald was briefly stored in a warehouse in Las Vegas before being moved again
USA - Multiple Incidents and DisputesThe emerald’s longest stay in the U.S
where it was involved in several thefts and legal battles:
It was reportedly stolen and rediscovered in South El Monte
It was also seized by the Los Angeles Sheriff’s Department and has remained in California custody throughout various court battles
USA - Current Legal Battle LocationThe U.S
District Court for the District of Columbia is the latest and possibly final location in the emerald’s legal saga
where the decision on its return to Brazil is pending
This round of disputes brought to light even more unusual accusations
and even ties to the infamous Ponzi schemer Bernie Madoff
As ownership of the gem turned into a full-scale battle
Ferrara and Morrison poured vast sums of money into legal fees
holding onto hope that the emerald’s fabled worth could change their fortunes
Now, years after the Brazilian government learned of the emerald’s exportation, the country has initiated legal proceedings to repatriate it, claiming it was smuggled out illegally, The Washington Post reports
Brazilian prosecutor Boni de Moraes Soares said it belongs in a museum rather than in private hands
He said: “We aren’t moved by any financial interest
“We want to send a signal that we will go after Brazil’s national property where it is found and hold to account international traffickers
so they’ll think twice before committing a crime so brazen.”
The legal basis for Brazil’s claim is compelling
Brazilian courts uncovered that the emerald’s export documents falsely identified it as “bitumen and asphalt”
They also say that the first license to mine the area from which it was sourced was not granted until years after the stone’s discovery
Brazilian authorities prosecuted the original prospectors
convicting them of smuggling and public property usurpation
they sought the US government’s help under a diplomatic accord
Despite the controversies surrounding the Bahia Emerald
Ferrara and Morrison have remained firm in their ownership claims
They repeatedly asserted that they acquired the stone legally in the U.S
Ferrara’s journey with the stone has been anything but easy
‘I’m the richest poor man you’ll ever meet,’” reflecting on his years of financial struggle and pursuit of the emerald’s potential riches
Ferrara initially received the emerald's deed in partnership with a California plumber
in exchange for an agreement to split any profits
especially after Biegler alleged that the Brazilian mafia was pursuing him and reported the emerald as stolen
the Los Angeles Sheriff’s Department seized the stone
sparking a years-long battle in California courts
establishing them as the stone’s rightful owners within the US
Brazil’s argument for the emerald’s return has garnered national sentiment
A Brazilian judge once stated: “We are not a colony
"Our riches cannot be distributed to innumerable countries at modest prices.”
This sentiment resonates with the Brazilian public
as the country has seen its natural and cultural wealth taken abroad for centuries
represents their nation’s legacy and should remain within its borders
Even with the US court’s recognition of Ferrara and Morrison as legitimate owners
Brazil’s diplomatic push has left them uncertain of the gem’s future
The case is now in the hands of US Judge Reggie B
who is expected to issue a decision on the petition soon
resigned to what he believes will be a losing battle
recently expressed doubt that the Bahia Emerald will remain in US custody
He said: “If it’s truly a national treasure, it belongs in Brazil
I didn’t put 16 years of my life into this for nothing.”
the Bahia Emerald has earned a reputation as a cursed gem
leaving financial ruin and legal battles in its wake
and numerous others who’ve vied for its ownership
the stone’s supposed $1 billion value has remained tantalisingly out of reach
the final chapter of the Bahia Emerald saga may soon be written
closing a story filled with dreams of riches
and battles for a gemstone that has eluded prosperity for all who’ve tried to claim it
Whether it ultimately returns to Brazil or remains in the US
the Bahia Emerald has cemented its place as one of the world’s most mystifying treasures
and a reminder of how elusive fortune can be
An enormous £238million emerald rock discovered in a gem mining field in Brazil is being kept under heavy security in a secret location as the owner exclusively revealed he is living in fear of kidnapping, extortion and armed robbery.
The private holder, who can only be identified by his initials FG, said the giant stone is extremely rare because of its 'considerable size and the quality of its gigantic crystals'.
He revealed that while it would need a forklift truck to lift the huge cluster of jewels, the risks of a heist are high in Brazil where criminal gangs use explosives to raid banks and carry powerful firearms.
The massive emerald, which weighs 794 pounds (360kg) and stands around 4.3 feet high (1.3metres), was unearthed a month ago, 200 metres deep inside the Carnaiba Mine, a gem-rich mineral exploration area in Bahia, north east Brazil.
The cautious owner said this week: 'I can't reveal anything about the whereabouts of the stone, how it's being kept and how much I paid for it.
'All I can say is the stone is being moved frequently from secure location to secure location under armed guard.
'I cannot take any chances with my family's lives by keeping the stone in one place where it could be found.'
Video footage shows the location inside the quarry where the raw gemstone was found hidden in rocks among layers of mica schist, a flaky thin mineral.
There are only two giant stones with this density of crystals in the world, and according to FG, the other one, the Bahia emerald, which was the subject of a legal dispute over ownership between Brazil and America, 'does not possess the same pure quality as the new Carnaiba emerald'.
The secretive keeper, who is currently finalising the legal paperwork for ownership, described the find as 'a majestic and beautiful monument'.
He said: 'This stone has emerald beryls spread all over it. Their quality is superb and by far the best I've ever seen and I've been in the industry for nearly 30 years.'
Experts predict the impressive jewelled stone, which contains around 180,000 carats of emerald crystals, could fetch around £238million.
The owner, a 50-year-old married father of one, revealed: 'I've already had calls from interested parties including potential buyers fromEurope, Arab Emirates, America, India and China, who are keen to open negotiations.
'Personally, I don't know what the value of this piece is because it will be led by market demands.'
The Carnaiba emerald was found by members of the Bahia Mineral Cooperative, a group of workers legally authorised to explore the area.
FG explained: 'Extracting the stone was extremely difficult. It took ten of us more than a week to get it out because it was 200 metres down in the ground.
'It was cut out of the area, where it was embedded, in one piece and all hands were needed to lift it to the mine shaft where it was raised to the surface by a winch.'
FG paid each member of the Coop for their share of the gemstone, leaving him as the sole owner of the Carnaiba Emerald.
This jumbo jewel was found in the same mine just one hundred metres from where the Bahia emerald was discovered sixteen years ago.
FG said: 'I saw the Bahia emerald when it was found in 2001. It was shaped flat like a basin and they had to chip away at it to reveal the emeralds underneath. Doing that made it lose a little of its value.
'To my recollection the Bahia emerald doesn't compare to my find which is magnificent in height and sumptuous to look at.
'My one has simply been washed down with water to get rid of the dirt and it retains its appeal and value.'
According to reports, the Bahia emerald, which weighed 44 pounds (20 kg) more than the Carnaiba emerald, was illegally taken out of Brazil to the United States.
Although the Brazilian government claimed the emerald cluster, which was valued at 310 million US dollars, should be returned as part of the nation's heritage, judges ruled otherwise in 2015 and the stone remains in America.
A confident FG said there is no risk of this happening to the new Carnaiba discovery.
His lawyer, Marcio Jandir, explained: 'We have done all the issuance of the certificate of origin, a requirement of the Department of Mineral Production.
'The owner of the stone will have the authorisation to do with it legally what he wants. And any transaction will be handled legitimately.'
FG said: 'For now, I'm keeping the rock heavily guarded and out of sight until I reach a decision on whether to sell it or display it in museums here in Brazil.'
Hatton Garden emerald expert Marcus McCallum commented: 'This is not the type of emerald used for making jewellery, it's more a collector's item which would look spectacular as an ornament in the foray of a wealthy home or make exceptional viewing in a museum.'
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Enormous emerald rock weighing 794 pounds is dug up in BrazilCommenting on this article has endedNewest{{#isModerationStatus}}{{moderationStatus}}