Massive Pink Diamond Discovered In Australia, Worth Over $10 Million

A massive rough pink diamond has been unearthed in Rio Tinto's Argyle diamond mine in Western Australia, CNN reports.

At 12.76 carats, the remarkable find is said to be the largest stone ever discovered in the country and is expected to sell for up to $10.6 million, according to the Herald Sun.

Named the Argyle Pink Jubilee, the gem is similar in color to the 24-carat Williamson Pink given to Britain's Queen Elizabeth II as a wedding gift, explains the Telegraph.

"A diamond of this caliber is unprecedented -- it has taken 26 years of Argyle production to unearth this stone, and we may never see one like this again," Argyle Pink Diamonds Manager Josephine Johnson said in a statement.

The gem is being cut and polished into a single stone over a 10 day period and will be up for auction later in the year, Rio Tinto said.

In November 2010, Sotheby's Geneva office sold a 24.78-carat fancy intense pink diamond for more than $46 million, which set the world's auction record for any diamond and jewel at $1.86 million per carat.

More than 90 percent of the world's pink diamonds come from the Argyle mine.

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Comments

[DanielSC]

12:57 AM on 02/29/2012

Imagine how many people a little piece of mineral could feed... sad when we put much more emphasis on a rock that we do on human life--that is why humans will be a short-lived species.

[iLdoRight]

04:35 AM on 02/27/2012

Its mine and I want it back! I lost it when I visited there in my dreams some time back ? Yea, that's it.

[dekendall]

08:45 PM on 02/26/2012

And How much did the minor get for risking his life and working in deplorable conditions?

[DrJay1966]

07:09 PM on 02/26/2012

Shine on you crazy diamond...

[Americanwoman55]

06:56 PM on 02/26/2012

lovely how nature when left to her own devices makes such incredibly beautiful objects!!!

[Sunwyn Ravenwood]

05:44 AM on 02/26/2012

Read up a bit on these diamonds.

"At first, the pink coloration was thought to be caused by the presence of manganese (Mn), but it is now thought to be possibly related to heat/metamorphism-induced microfaulting/slippage of carbon atoms, resulting in pink banding at a microscopic level."

http://www.newark.osu.edu/facultystaff/personal/jstjohn/Documents/Geology-talks/Rice-talk2.htm

[Sunwyn Ravenwood]

05:32 AM on 02/26/2012

WOW!!

[Fatema Saber]

02:14 AM on 02/26/2012

woah! I'm dazzled!!

[MadamRoma]

10:04 PM on 02/25/2012

I Wonder if they would mind if I took it for a test run....

[Cassandra Velasco]

09:50 PM on 02/25/2012

Oh, It's so beautiful! I hope they sell Cubic Zirconia knockoffs, it's so pretty. It's more beautiful than Kate Middleton's engagement ring or the imaginary blue diamond heart ring in the Titanic movie. I just hope they make copies with real sterling silver settings, not copper with a thin silver plating that wears off before your purchase.check is cashed.

[anthonyshrubb]

03:31 PM on 02/25/2012

10.6 million is that all?

[GSR]

12:56 AM on 02/25/2012

Amazing. Where do you put the batteries?

[I think I think]

05:16 PM on 02/24/2012

It is beautiful. Chalk up one more for science.

[Opus Fideo]

11:15 AM on 02/24/2012

Kim Kardashian says she wants to turn it into her next wedding ring.

[Npn Npn]

07:40 AM on 02/24/2012

Millions of years of nature's intense and patient work is going to end up decorating the finger of some self-absorbed celebrity for an infidelity payoff or another junky 10 minute marriage.

Pathetic really.