Nov 26 (Reuters) - British precious stones miner GemfieldsPlc said it had found a 40.23-carat rough ruby at itsMontepuez deposit in Mozambique, and termed the find as "one ofthe most important rubies unearthed in recent times".
The miner said on Wednesday that the recent find had beenappraised by the Gübelin Gem Lab in Switzerland, ahead of thecompany's ruby auction in Singapore next month.
"Although difficult to judge in the rough state, thetransparency and colour of the crystal indicate an importantgemstone might be cut from this piece of rough," said DanielNyfeler, Managing Director of Gübelin.
Rubies are traditionally the most prized when they are avivid crimson with a hint of blue. However, Mozambican rubiesoften are a rich pinkish-red colour due to the variation indeposits in the region.
Among the world's most famous rubies are the 100.32 caratDelong Star Ruby and the Hixon Ruby Crystal - a 196.10-caratstone that is touted to be one of the most perfect large rubycrystals in the world.
Earlier this month, an 8.62 carat Burmese ruby was sold at aSotheby's auction at a record price of about $8.57 million, oralmost $1 million per carat.
Gemfields owns a 75 percent stake in the Montepuez rubydeposit, and in June generated $33.5 million from its firstauction of rough ruby and corundum from the deposit.
Gemfields, the world's largest rough emerald producer, hasbeen trying to create a stable market for coloured stones - thesame way Anglo American Plc's De Beers has championeddiamonds from London's Bond Street to China.
The discovery, which jewellery expert and historian JoannaHardy termed as "incredibly rare", sent Gemfields' shares up asmuch as 3.5 percent on Wednesday. The stock was up 2 percent at51 pence at 0930 GMT. (Reporting by Esha Vaish in Bangalore; Editing by GopakumarWarrier)