Huge blue diamond discovery

(2 votes)

An impressive 25.5 carat blue diamond has been uncovered at a mine in South Africa.

Independent mining company Petra Diamonds Limited announced the discovery of the gem at its Cullinan mine on Wednesday.

A similar-sized blue diamond found previously at the Cullinan mine was cut into a flawless vivid blue 7-carat polished stone and sold for US$9.49 million in 2009. 

That’s US$1.35 million per carat.

All of this diamond talk got us thinking: What would you do if you found one of these little beauties?

Would you sell it? Give it to your mum? 

Or … donate it?

That’s exactly what Rio Tinto did last year.

After uncovering Australia’s biggest pink diamond, and then cutting it and polishing it into a “remarkable” stone, it handed it over to the Melbourne Museum.

The 12.76-carat rough pink diamond was found at Rio Tinto’s Argyle mine in Western Australia’s Kimberly region in February last year.

The stone, which could only be partially cut and polished to a rock of 8.01 carats, was expected to be sold for around $US10million.

Instead, the Argyle Pink Jubilee is sitting pretty on display in Melbourne.

With more than 90 per cent of the world’s pink diamonds coming from the Argyle mine in WA, perhaps Mr Tinto figured he’s got enough of the fancy rocks lying around.

So, what is the highest price ever paid for diamond at an auction? 

A whopping $US46.1million was paid for a 24.78-carat “fancy intense pink” diamond by London jeweller Laurence Graff in 2010.

And just on Tuesday, a 34.65-carat pink diamond became the second-highest selling jewel in history when it fetched $US39.3 million at an auction in New York.

The gem, nicknamed the Princie, was first discovered 300 years ago in India’s Golconda mines. It was bought by an anonymous phone bidder.




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o BHP A$37.04 0.00 (0.00%)
o Rio Tinto A$65.16 ▲0.49 (0.76%)
o Fortescue A$5.23 ▼0.01 (-0.19%)
o Newcrest A$9.48 ▲0.35 (3.83%)


Company ID [ASX:BHP] Last trade:A$37.04 Trade time:4:10PM GMT+11 Value change:0.00 (0.00%)

Rio Tinto

Company ID [ASX:RIO] Last trade:A$65.16 Trade time:4:10PM GMT+11 Value change:▲0.49 (0.76%)


Company ID [ASX:FMG] Last trade:A$5.23 Trade time:4:10PM GMT+11 Value change:▼0.01 (-0.19%)


Company ID [ASX:NCM] Last trade:A$9.48 Trade time:4:10PM GMT+11 Value change:▲0.35 (3.83%)


Minetalk Poll

Is the mining boom in Australia over?

Is the mining boom in Australia over?

No, it's just media hype.
Yes as a result of lower demand.
Still plenty of resources.
There will be a second boom.
1 Votes left

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