One-of-a-kind pink diamond set to fetch $10 million for Rio Tinto
THE biggest pink diamond ever found by mining giant Rio Tinto is expected to fetch at least $10 million when put up for sale.
The 12.76 carat gem, to be known as the Argyle Pink Jubilee, was found at Rio Tinto's Argyle mine in the remote east Kimberley region of Western Australia.Rio Tinto said diamonds in its special collection regularly sold for $1 million a carat.
"This diamond is one of a kind, so the market will determine its true value," Rio Tinto Diamonds communications manager Robyn Ellison said.
"It's taken 26 years to find one of these, so most likely we'll never find another one."
The gem is being cut and polished into a single stone in a painstaking 10-day process by Richard How Kim Kam, who has worked for the company for 25 years.
