The name of the mineral derives from a Greek word axine meaning an axe; it refers to the shape of the stone's crystals.

Axinite is a name of a whole group of minerals. The most common mineral in this group is iron rich, black or gray ferroaxinite. The other varieties are magnesium rich magnesioaxinite, manganese rich manganaxinite and yellow tinzenite, which contains more or less equal quantities of iron and manganese.

Since the minerals of axinite group are relatively rare, it is not easy to find a crystal that would be fit for cutting, which makes the stone more valuable. It is usually cut en cabochon or faceted.^[1]