Mac and Mac's Pick: Diamond from down under

By WEEK Producer

February 22, 2012 Updated Feb 22, 2012 at 11:14 PM CDT

Some folks think all the diamonds come from Africa. Well, a lot of them do come from Africa, but there are diamond mines in
North America, Russia and Australia. It's in Australia where there's been a major diamond find.

The Argyle Pink Jubilee Diamond is 12.76 carats, and is undergoing ten days of cutting and polishing. It's the biggest diamond unearthed since the Argyle Mine opened 26 years ago.

When the gemstone has been cut and polished it will go on a world tour including New York and Hong Kong, before being sold later this year. While the company won't say what its worth, the diamond could bring as much as $1 million a carat.