Gemfields has recovered a 40-carat ruby, at its Montepuez mine in Mozambique.

The ruby is of an exceptional size and is viewed by the mining company as one of probably one of the finest ruby varieties, reports add.

Ian Harebottle, CEO of Gemfields, said: “As an African by birth and at heart, I am exceedingly proud that possibly one of the finest rubies to have been discovered in recent generations has been 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. I’d also like to thank our local partner, Mwiriti, who own 25% of Montepuez, for the vision and commitment they have displayed.”

The company plans to sell the stone at its forthcoming auction in Singapore, which will be its second auction of rubies this year.