This very rare gemstone of the Borate Class was first discovered in 1883 on Mt. Soktui in Siberia by Russian mineralogist Pavel Jeremejev, after whom it was named. The best quality stones are found in the Erongo Region in Namibia. Most of this stone are colored blue or yellow. White and colorless versions of this gem have also been discovered. As of early 2005, a clean, 2.93-carat faceted gem was selling on the Internet for $2000.00 per carat.