British diamond thief extradited to NSW

A British man who stole a $250,000 rare, pink Argyle diamond from a Cairns jeweller will be extradited to NSW accused of stealing another valuable diamond.

Police allege Matthew Mark Luke John Osborne stole a diamond ring worth more than $145,000 from Sydney's Queen Victoria Building in 2013.

He did not oppose an extradition application on Wednesday and is expected to fly with two NSW Police officers later in the morning.

The 31-year-old had been serving a four-year jail sentence for stealing the rare pink gem from a Cairns jeweller last year but was granted parole before his arrest on Monday.

The pink sparkler has never been found, while police say part of the Sydney ring has been found overseas.

Magistrate Jane Bentley allowed Osborne's parole to continue in NSW where he is expected to face the Downing Centre Local Court.