Huge Pink Diamond Possibly Worth US$10.6M Found


The Argyle Pink Jubilee diamond

Mining giant Rio Tinto has announced the unearthing of a “remarkable” 12.76 carat pink diamond, said to be the largest ever to be discovered in Australia.

Dubbed the Argyle Pink Jubilee, the huge stone was found at Rio’s pink diamond operations in the Kimberley region of Western Australia. It will take at least 10 days to cut and polish. “This rare diamond is generating incredible excitement,” said Josephine Johnson, a spokesperon from Rio’s Argyle Pink Diamonds division.

“A diamond of this calibre is unprecedented — it has taken 26 years of Argyle production to unearth this stone and we may never see one like this again. The individual who gets to wear this remarkable pink diamond will be incredibly lucky indeed."

Though the mining company would not speculate on how much the latest pink gem was worth, Rio said premium quality pink diamonds typically fetch in excess of US$1 million per carat, meaning the Jubilee could go for at least $10 million. It is of the same reported color as the Williamson Pink, famously gifted to HRM Queen Elizabeth II. That diamond was set into a brooch by Cartier for her coronation.

Via [The Nation]

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