In Garuda Purana, Sage Sutji told about the origin of jewels from Balasur, to the assembled sages. The precious stones and jewels are originated from the corpse of Self sacrificed Balasur.
Balasur , A well learned Demon
Once there lived a demon named Bala who is well learned in Vedas and scriptures. As deities and demons always fight, This time Bala won the war and took heaven into his hands. Bala as he know the value of the knowledge of Vedas and scriptures he assured to deities that he wont disturb them in their work with regarding the Penances and rituals prescribed in Vedas and scriptures. Balasur gave word to the deities for his support for this regard.
Deities Plan yagna to get kingdom back
Deities want to get back their kingdom back. They planed yagna for that purpose of taking back the kingdom. They made all the preparations for the Yagna. In between they needed a person who wholeheartedly sacrifices himself as the ritual. But deities could not find any one.The deities went to Balasur for the help regarding Yagna and told him that they are unable to find a person who could offer himself as sacrificial being as a ritual without which that yagna remains incomplete. They pleaded Balasur to help them .
Balasur’s Corpse turns into Jewels
As Balasur promised he bound to that and he himself sacrificed for the Yagna leaving every one in shock. Such is the virtual deed of Demon Balasur. But amazingly his corpse turned into jewels. Deities tried to carry the ‘Jewel-body’ through the aerial route towards a safer place, but it was fragmented into countless pieces due to the impact of ferocious speed of the wind it had to negotiate. These pieces scattered all over the places- ocean, rivers, Mountains, Forests, etc. In course of time these places got transformed into countless mines of jewels and precious stones such as Vajra (diamond), Muktamani, Indraneel, Sphatik, Prawal, Pushparag and many more.