Gemfields unearths 40.23 carat rare ruby from African mine

Gemfields, the leading supplier coloured gemstones, has discovered one of largest rubies unearthed in recent times. Weighing at 40.23 carat, the rough ruby originates from the Montepuez deposit in Mozambique.

The gemstone set the new benchmark for the quality of African rubies and endorses the Montepuez deposit in Mozambique as the world's most significant deposit presently in development. At 340 square kilometers, Montepuez is the largest ruby mining concession in private hands in the world today, and has already proven to be one of the most productive of all ruby mining concessions.

"This is possibly one of the finest rubies to have been discovered in recent generations unearthed from African soil, and even more so of the dedication and expertise that our exceptional team has deployed in bringing us to this moment in history. The ruby was discovered in partnership with Mwiriti, who own 25 per cent of Montepuez," said Ian Harebottle, Chief Executive Officer of Gemfields.

In keeping with Gemfields' commitment of offering complete transparency from mine to market, the company will follow this exceptional gem from the mine to its ultimate home. Given its significance, the gem has been appraised in advance of Gemfields' December ruby auction in Singapore by the Gübelin Gem Lab in Switzerland, one of the world's foremost gemmological laboratories.

"Although difficult to judge in the rough state, the transparency and colour of the crystal indicate an important gemstone might be cut from this piece of rough. We are looking forward to following the development of this remarkable rough from its current state to a cut gem," said Daniel Nyfeler, Managing Director of Gübelin.

Following the appraisal, jewellery expert and historian, Joanna Hardy, examined the gemstoneto further highlight the qualities of the impressive gem who termed the ruby gemstone as incredibly rare.

"It is not surprising that record-breaking prices are being achieved today as awareness and appreciation grows of just how rare these crystals are. The knowledge that the earth will not produce crystals of this outstanding quality and beauty very often, if ever again, has instilled in them the value that reflects their rarity," said Hardy.

The rough ruby will soon travel to Singapore for Gemfields' much anticipated second ruby auction, where it will be sold to the highest bidder before beginning the next chapter of its journey, Gemfields said in a statement.