The stunning, Gemfields-mined stone was appraised by the Gübelin Gem Lab in Switzerland. Photo courtesy Gemfields.

BY KAREN AANONSEN

The world’s largest colored stone producer is keeping an authoritative hold on its title with a new African find. To the delight of discerning collectors everywhere, Gemfields recently announced that a 40.23-carat rough ruby was unearthed at its Montepuez deposit in Mozambique. Now the stunning, ethically-sourced stone is poised to be auctioned off in Singapore this month. A previous Gemfields auction of rough ruby and corundum from the Mozambique deposit generated an astonishing $33.5 million in June.

At the intersection of exploration, mining and marketing, Gemfields fittingly acquired Fabergé — the jeweler known for vibrant pieces — in 2013. The move provides the British company with more influence over the positioning of colored gemstones in the market and helps ensure that Gemfields reaches both trade and end customers.

—Dec. 4, 2014