Not too long ago, mining giant Rio Tinto found a 12.76-carat rough pink Argyle diamond in the Australian Argyle Mine. Pink diamonds are extremely rare, while their market demand is quite high. Hence the prices expected on stones such as this one are extremely high. This diamond in particular, which has become known as the Argyle Pink Jubilee, was intended for auction at an exclusive sale, but due to the inability to properly cut and polish this stone in entirety, the diamond was only cut down to the 8.01-carat beauty that it is today. Unfortunately, the Argyle Diamond mine won't be able to complete the polishing process as the stone's structure doesn't allow for further modifications. Now, the pink stunner, Australia’s largest pink diamond, is on permanent display at the Melbourne Museum.
The Argyle mine, located in the east Kimberly region of West Australia, is the primary source of the world’s pink diamonds. In fact, the name Argyle and pink diamonds go hand in hand for this very reason. For every million carats of colorless diamonds that are mined, only one is a pink diamond. It is for this reason that the discovery of the Argyle Pink Jubilee put Argyle on the map all over again.
Similar in color to Queen Elizabeth’s 24-carat pink diamond, The Williamson’s Pink, the pink sparkler displays a light pink tone. The Queen’s stone was found in Tanzania in 1947 and was given to her as a wedding gift. Later, the diamond was set in a brooch for her coronation. The Williamson is believed to be one of the finest pink diamonds known to humankind. The discovery of the Argyle Pink Jubilee brought similar excitement, due to its color and its size.
Rio Tinto generously donated the shimmering light pink wonder to the Melbourne Museum. Much effort was put into unearthing this precious stone, as it could very well be the last of its kind to be seen in the Argyle mine. It took 26 years to produce this diamond. Pink diamonds, on average, are worth 20 times more than a colorless diamond. The Argyle Pink Jubilee will most certainly be remembered for many generations to come, and can now be viewed in Melbourne by the general public.