Argyle Pink Jubilee discovered in West Australia is the Largest Pink Diamond ever found in Australia

The largest rough pink diamond ever found in Australia was discovered in a West Australian mine owned by Rio Tinto. The  12.76-carat rough pink diamond was christened the Argyle Pink Jubilee. Natural pink diamonds are considered one of the most valuable types of diamonds.

The huge rough stone was found at Rio's pink diamond operations in the Kimberley region of western Australia. According to experts it would take 10 days to cut and polish the rare diamond after two months of immaculate planning. 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.

The light pink Argyle Jubilee is a similar colour to the 24-carat Williamson Pink given to Britain's Queen Elizabeth II as a wedding gift which was later set into a Cartier brooch for her coronation. The Williamson was discovered in Tanzania in 1947 and is ranked among the finest pink diamonds in existence.

Rio produces more than 90 percent of the world's pink diamonds from the Argyle mine ranked as the world's largest producer of pink diamonds. The miner mentioned that large stones like the Jubilee typically went to museums, were gifted to royalty or ended 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.