Millennium Sapphire Comes Out of Hiding in $50 Million Deal

A Chinese materials company said it will acquire the carved gemstone, with plans to display it after over a decade out of public view

Colin Kellaher

Aug. 22, 2018 5:36 p.m. ET

The famed Millennium Sapphire, which has been out of the public eye for more than a decade, has resurfaced in one of the least likely of places.

Yulong Eco-Materials Ltd. (YECO), a producer of fly-ash bricks based in the city of Pingdingshan in Henan Province, China, said Wednesday it has agreed to acquire the gem for $50 million in restricted stock. The company’s market capitalization was $3.3 million as of Tuesday’s close.

The...