Rare blue diamond found in Australia

Merlin Diamonds have discovered a rare blue diamond at their Merlin mine in Northern Australia. The company says this "small 0.124 carat diamond" demonstrates the potential of valuable colored gemstones. "This is Merlin's first blue diamond," the company said in a statement.

Blue diamonds are even more unusual than the pink ones commonly found at Rio Tinto's Argyle mine in Western Australia. This June, a massive, intense blue diamond known as the Cullinan Dream sold for $ 25.4 million at Christie's New York auction, breaking all records and becoming the most expensive gem of its kind ever sold at auction.

Australia's largest diamond, over 104.73 carats, was also found at the Merlin mine, which was launched by Rio Tinto and Ashton Mining in 1999-2003 before being acquired by Merlin Diamonds in 2014.