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The 12.7-carat diamond has been named the Argyle Pink Jubilee in honor of Queen Elizabeth's 60 years on the British throne.



  Rio Tinto says it has unearthed largest-ever pink diamond mined in Australia


March 9, 2012


Rio Tinto Diamonds has announced the discovery of a 12.76-carat pink diamond at the Argyle diamond mine in the Kimberley region of Western Australia. The company has named it the Argyle Pink Jubilee, in honor of the 60th anniversary the accession to the throne of Queen Elizabeth II.

"This rare diamond is generating incredible excitement," said Josephine Johnson from Rio Tinto's Argyle Pink Diamonds division. "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. The individual who gets to wear this remarkable pink diamond will be incredibly lucky indeed."

According to media reports, the light pink Argyle Jubilee is a similar in color to the Williamson Pink, which given to then Princess Elizabeth and Prince Phillip as a wedding gift in November 1947. That stone was discovered as a 54.5-carat rough stone at the Williamson diamond mine in Tanzania and was cut by London diamond cutters Briefel and Lemer into 23.6 stone in 1948. The Williamson Pink was consequently set in a Cartier brooch created for the queen's coronation in 1952.

Rio Tinto produces more than 90 percent of the world's pink diamonds at its Argyle mine. The 12.76-stone will be cut and put up for sale, and pundits have estimated that it will sell for more than $12 million.

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