Gemfields has officially announced the discovery of an absolutely enormous rough emerald earlier this month in their Kagem mine in Zambia.

The emerald has been named “Insofu,” which means ‘elephant,’ by the indigenous Bemba people to both honor its size and pay tribute to the World Land Trust’s “Wild Lands Elephant Corridor Project.”

The emerald weighs in at 6,225 carats and is currently under the scrutiny of experts to determine its value and evaluate what possible futures it might have.

London designer Carri Vacik has unveiled a stunning new line of jewelry.

Whether it’s the gorgeous cocktail rings, of breathtakingly colourful gemstones set in lavish gold bezels, or the sparkling and sleek Firebird collection of earrings, this line is a real treat.

The designer’s inspiration is highly eclectic, ranging from Ancient Egypt to Hollywood of the late 1950′s. For this collection, inspiration was drawn from the East and particularly India.

Goldstriker has introduced three new precious stone-bezeled iPhone 3Gs.

Available in black and white diamonds, ruby and white diamond, or white diamonds, each is a 16GB model and fully unlocked.

The three new models are available now and sell for £3,595 ($5,350), £3,095 ($4,600), and £4,095 ($6,100), respectively.

Another large diamond has been found at the Letseng mine in Lesotho, a small kingdom in South Africa.

The stone weighs 478 carats and is the 20th largest rough diamond ever found and it may become the largest ever polished round diamond.

Another similar sized rough stone from the same mine was recently valued at $12million. But the clarity and round shape of the new gem mean it could be worth considerably more and in its polished state could sell for tens of millions of dollars.