O problema é explicado aqui:http ://www.randomactsofsentience.com/2013/05/gem-install-mysql2-missing-mysqlh-on-os.html . Resumidamente:
Altere o arquivo
/usr/local/mysql/bin/mysql_config
em torno da linha 120 cflags="-I$pkgincludedir -Wall -Wno-null-conversion -Wno-unused-private-field -Os -g -fno-strict-aliasing -DDBUG_OFF -arch x86_64 " #note: end space!
cxxflags="-I$pkgincludedir -Wall -Wno-null-conversion -Wno-unused-private-field -Os -g -fno-strict-aliasing -DDBUG_OFF -arch x86_64 " #note: end space!
para
cflags="-I$pkgincludedir -Wall -Os -g -fno-strict-aliasing -DDBUG_OFF -arch x86_64 " #note: end space!
cxxflags="-I$pkgincludedir -Wall -Os -g -fno-strict-aliasing -DDBUG_OFF -arch x86_64 " #note: end space!