The Leibish Prosperity Pink Diamond - Mined at Argyle (Leibish & Co)

Pink diamonds just can’t stay out of the news, especially with special finds such as the 12.76-carat Argyle Pink Jubilee Diamond unearthed recently at the Argyle mine in Western Australia making headlines. (By the way, that was the largest pink diamond discovered in Australia to date.)

Argyle pink diamonds made a statement at Sunday’s 84^th annual Academy Awards, with Livia Firth (wife of actor Colin Firth and a well-known advocate for sustainable jewelry and fashion) opting for diamond jewelry featuring not only pink but also blue diamonds from the Argyle mine.

The Rio Tinto Diamonds website quoted Livia Firth praising Argyle diamonds as “not only rare and beautiful, but [also] ethically mined.” Firth continued to discuss Argyle diamond jewelry, explaining that she was wearing earrings and a ring designed by John Calleija.

Josephine Johnson, manager of Argyle Pink Diamonds, also had warm words for Calleija. “There are many hands involved in the transformation of a rough Argyle pink diamond into a beautiful piece of jewelry, and the details of this journey are very important to us."

"We are immensely proud of John Calleija whose passion for exquisite pink diamond design, with a conscience, has captured the attention of one of the world's most envied women," Johnson said.

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The Lana Marks Cleopatra Clutch at the 2012 Oscars (PRNewsFoto/Lana Marks) 

The Oscars are famous for the over-the-top diamond accessories sported by attendees – sometimes jewelry sets by top diamond jewelry companies like Cartier, Tiffany, Chopard, and Harry Winston, not to mention celebrity diamond jewelry designers Lorraine Schwartz and Neil Lane, worth several million dollars. Interestingly, most ladies leave their purses behind when they rock the red carpet, but not this year!

Academy Award Nominee for Best Supporting Actress, Janet McTeer and "China's Leading Lady," Li Bingbing, both carried customized, American alligator and exotic leather, haute couture, diamond pave, LANA MARKS Brand Cleopatra Clutches at Sunday’s 84th Annual Academy Awards.

Now, we at the Israel Diamond Portal like writing about diamond-studded “It Bags” from time to time, and this model certainly fits the bill. Cleopatra Clutches are valued as high as $400,000.00. They are the most sought-after Oscar Night haute couture handbags; worn by Academy Award-Winning actresses, nominees, presenters and motion picture icons. Cleopatra Clutch Celebrities have included Angelina Jolie, Charlize Theron, Helen Mirren, Jennifer Aniston and Kate Winslet.

In 2007, Mirren won the "Best Actress Award" for her role as "Queen Elizabeth II." As she stepped-up to the microphone for her acceptance speech, Mirren held the Cleopatra Clutch in her hand for the world to see and proclaimed, "Here I am…with my purse."

(Source: PRNewsWire)

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Another pink diamond has made the news (Israel Diamond Institute, illustrative)

It’s not unusual for a pink diamond to be unearthed in Australia. After all, the country’s Argyle Diamond mine (owned by Rio Tinto) is the source of about 90% of the world’s rare and coveted pink and red diamonds (as well as blue diamonds and cognac diamonds, but that’s for another story.)

What makes the pink diamond recently unearthed at Argyle newsworthy is its sheer size – the rough diamond weighs in at 12.76 carats.

According to an announcement published on Rio Tinto Diamonds’ website, the stone’s color is light pink. The company compares it to the famous Williamson Pink, which was presented to Queen Elizabeth II on the occasion of her wedding.

Josephine Johnson, manager of Argyle Pink Diamonds, says that “a diamond of this caliber is unprecedented - it has taken 26 years of Argyle production to unearth this stone and we may never see one like this again.”

Who will undertake to cut and polish this rare diamond? The task has been entrusted to Richard How Kim Kam, an employee of Argyle for the last 25 years. Kam knows full well that many interested eyes in the global diamond industry will be following his every move. After two months of planning, Kam says it will take approximately 10 days to cut and polish the diamond, which will be named the Argyle Pink Jubilee.

“I’m going to take it very carefully. I know the world will be watching,” Kam said.

Once polished, the Argyle Pink Jubilee diamond will be auctioned. News outlets estimate that the polished diamond could fetch $10 million.

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