:: Huge Rare Pink Diamond Found in Australia

Mining giant Rio Tinto said on Wednesday it has unearthed a 'remarkable' 12.76 carat pink diamond in Australia, the largest of the rare and precious stones ever found in the resources-rich nation.

Named the Argyle Pink Jubilee, the huge rough stone was found at Rio's pink diamond operations in the Kimberley region of western Australia and would take 10 days to cut and polish, the miner said.

'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.

'The individual who gets to wear this remarkable pink diamond will be incredibly lucky indeed.' 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.

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