Lucky Rio Tinto, with all of W.A. to plough around in, it manages to find this 12.76 carat pink diamond. The largest of the rare and precious pink stones ever found in the resources-rich West.
Named the Argyle Pink Jubilee, the huge rough stone was found at Rio's pink diamond operations in the Kimberley region.
"This rare diamond is generating incredible excitement. 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," said Josephine Johnson from Rio's Argyle Pink Diamonds division.
Rio produces more than 90 percent of the world's pink diamonds from the Argyle mine, and said large stones like the Jubilee typically went to museums, were gifted to royalty or end up at prestigious auction houses like Christie's.
Christie's had only auctioned 18 polished pink diamonds larger than 10 carats in its 244-year history, Rio said.
When the Jubilee diamond has been cut and polished it will be graded by international experts and showcased globally before being sold by invitation-only tender later this year.
It would be nice if Gina R picked up the tab and presented it to Her Majesty.
I'm hoping they make a documentary of the cutting and polishing and that it turns out to be absolutely flawless.