KAGEM, ZAMBIA — Gemfields, the world's largest producer of green stones, has discovered a giant, green emerald in Zambia.

The emerald weighs more than 1.1 kilograms and was discovered in Kagem, the world's largest emerald mine located in Zambia.

A statement released by Gemfields said that the emerald has "remarkable clarity and a perfectly balanced golden green hue."

Emeralds in the Kagem mine were reportedly formed 450 million years ago due to a rare combination of in situ minerals and magma from the Earth's crust which then developed into emerald crystals.

The gem is being called "Inkalamu" which means lion in the local Bemba language in Zambia.

The uncut emerald was discovered in an open-pit mine on October 2 by a geologist and a veteran emerald miner.

Several pieces are expected to be cut from the 5,655-carat emerald and will be auctioned in Singapore this month.

Most of the emeralds in the world are mined from Zambia, Colombia and Brazil. As a result, emeralds are even more precious than diamonds due to their scarcity.