Argyle Diamond Mine Closure: The End of a Sparkling Era

 

 

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

After 37 years of output, Argyle’s closure came at a time of flux for the diamond market. The sector has been dealing with reduced demand caused by the COVID-19 pandemic, as well as shifting demographics.

While mining activity has concluded at the source of 90 percent of the world’s pink gems, diamond analyst Paul Zimnisky noted that Rio Tinto is likely still processing ore from Argyle.

“So Argyle diamonds will probably still be ‘produced’ this year,” he said. “Also, Rio may have some rough inventory overhang following all of the supply chain disruptions last year. But by the end of this calendar year or early next year, I think most of the primary market Argyle rough goods will be off the market.”

Demand for pink diamonds steadily growing

Colored diamonds, especially pink and red, are among the most valued gems on Earth. Prices can range from US$10,000 per carat for less intensely colored stones up to US$70,000 per carat for vivid hues.

Ahead of the Argyle closure, pink diamond prices were on the rise. According to the Fancy Color Research Foundation FCRF, the value of pink diamonds rose 116 percent between 2010 and 2020. That’s more than any other colored diamond segment, including the extremely rare blue diamonds.

Even 2020’s disruptions and closures didn’t dent the rosy outlook for colored stones.

“The prices of all pink diamonds overall remained without a change in Q4 2020, with fancy and fancy intense categories presenting a slight increase,” a FCRF report states. “Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy color diamond prices proved to be resilient, with minor price decreases across the board.”

With as much as 95 percent of global pink diamond supply now removed, there is some anticipation that prices for the gems will continue to increase, perhaps at a faster rate.

Source: DCLA

Argyle Diamond Mine Closure: The End of a Sparkling Era

 

 

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

After 37 years of output, Argyle’s closure came at a time of flux for the diamond market. The sector has been dealing with reduced demand caused by the COVID-19 pandemic, as well as shifting demographics.

While mining activity has concluded at the source of 90 percent of the world’s pink gems, diamond analyst Paul Zimnisky noted that Rio Tinto is likely still processing ore from Argyle.

“So Argyle diamonds will probably still be ‘produced’ this year,” he said. “Also, Rio may have some rough inventory overhang following all of the supply chain disruptions last year. But by the end of this calendar year or early next year, I think most of the primary market Argyle rough goods will be off the market.”

Demand for pink diamonds steadily growing

Colored diamonds, especially pink and red, are among the most valued gems on Earth. Prices can range from US$10,000 per carat for less intensely colored stones up to US$70,000 per carat for vivid hues.

Ahead of the Argyle closure, pink diamond prices were on the rise. According to the Fancy Color Research Foundation FCRF, the value of pink diamonds rose 116 percent between 2010 and 2020. That’s more than any other colored diamond segment, including the extremely rare blue diamonds.

Even 2020’s disruptions and closures didn’t dent the rosy outlook for colored stones.

“The prices of all pink diamonds overall remained without a change in Q4 2020, with fancy and fancy intense categories presenting a slight increase,” a FCRF report states. “Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy color diamond prices proved to be resilient, with minor price decreases across the board.”

With as much as 95 percent of global pink diamond supply now removed, there is some anticipation that prices for the gems will continue to increase, perhaps at a faster rate.

Source: DCLA

A WORLD-RENOWNED TEAM OF PINK DIAMOND EXPERTS

 

AN UNSURPASSED REPUTATION FOR QUALITY

We’re a team of pink diamond experts, who run Australia’s leading investment diamond brokerage, Australia Diamond Portfolio (ADP).

For nearly a decade we have sourced some of the rarest pink diamonds from our Sydney Headquarters, for clients here and across the world.

ADP’s mission is to make rare coloured diamonds accessible to all investors and with this in mind, we curated the Legacy Collection to enable collectors to experience the magic of pink diamonds and own a soon-to-be-lost piece of Australia’s ancient past.

If you are an investor looking to purchase diamonds as an investment, visit our investment site.

Source: https://www.legacypinkdiamonds.com.au/

A WORLD-RENOWNED TEAM OF PINK DIAMOND EXPERTS

 

AN UNSURPASSED REPUTATION FOR QUALITY

We’re a team of pink diamond experts, who run Australia’s leading investment diamond brokerage, Australia Diamond Portfolio (ADP).

For nearly a decade we have sourced some of the rarest pink diamonds from our Sydney Headquarters, for clients here and across the world.

ADP’s mission is to make rare coloured diamonds accessible to all investors and with this in mind, we curated the Legacy Collection to enable collectors to experience the magic of pink diamonds and own a soon-to-be-lost piece of Australia’s ancient past.

If you are an investor looking to purchase diamonds as an investment, visit our investment site.

Source: https://www.legacypinkdiamonds.com.au/

Rio Tinto closes Argyle diamond mine after 37 years

 

Pink diamonds, already rare, are about to get scarcer as Rio Tinto has closed its iconic Argyle diamond mine, the world’s biggest and the main global source of high-quality pink diamonds.

Since opening its doors 37 years ago, the Western Australia mine produced 865 million carats of rough diamonds and became the source of about 90% of the world’s prized rose-to-magenta hued stones.

The Argyle ore body, a single pipe known as AK1, was discovered in October 1979. Alluvial operations began in 1983, open pit mining kicked off in 1985 and the mine became a fully underground operation in 2013.

Today, Rio has mined the very last of these unique diamonds from the site, located within the ancient Matsu Ranges more than 3,000 km north of Perth.

“Fifty years ago there were very few people who believed there were diamonds in Australia even fewer could have foreseen how the Argyle story would unfold,” Rio Tinto’s chief executive of Copper and Diamonds, Arnaud Soirat, said in a statement.

“To arrive at this final chapter has required vision, courage and determination to overcome significant challenges to enter new territory in diamond exploration, mining and marketing,” Soirat added.

The closure of Argyle will remove about 75% of Rio’s diamond output, yet the impact on the miner’s earnings will be negligible. Diamonds bring in only about 2% of its earnings, while iron ore the company’s main commodity accounts for almost 60%.

The operation will now undergo decommissioning and rehabilitation, which is expected to take five years. After that, Rio will monitor the site for a period yet to be defined.

End of an era

Andrew Wilson, general manager of Argyle, said the mine transformed the diamond sector since its opening, supplying gems for both ends of the market.

“A new chapter will now begin as we start the process of respectfully closing the Argyle mine and rehabilitating the land, to be handed back to its traditional custodians,” he said.

Argyle was Australia’s first large-scale diamond operation, pioneering the fly–in fly–out model, and seen as an opportunity for a workforce drawn from across the nation.

Forty years ago, in the Kimberley region of Western Australia, four diamonds in a dry creek bed ultimately led Rio’s geologists to a massive diamond deposit.

It also triggered the creation and adoption of new technology and exploration methods to make the search for diamonds more efficient across the rugged and remote Kimberley landscape.

At its peak, Argyle churned out 40% of the world’s diamond output, which made it the biggest producer by volume.

Pricy gems

Analysts and auctioneers alike expect prices for pink diamonds to go up and, potentially spur exploration.

Pink stones have already been fetching record prices in the past few years and the closure of their main source could see that trend strengthen.

The “Pink Star” went for $71.2 million at Sotheby’s Hong Kong in April 2017, setting a record for diamonds sold in auctions.

In 2018, the 18.96-carat Pink Legacy fetched $50 million at Christie’s auction house, breaking the world record for price paid per carat for a pink diamond at auction.

The Pink Legacy diamond.

At Sotheby’s Hong Kong 2019 sale, one of the star pieces described as an “exquisite 10.64 carat vivid purplish pink diamond” sold for just under $20 million.

Rio Tinto’s own data show that prices for their Argyle pink diamonds jumped by 500% from 2000 to earlier this year.

Source: DCLA

Rio Tinto closes Argyle diamond mine after 37 years

 

Pink diamonds, already rare, are about to get scarcer as Rio Tinto has closed its iconic Argyle diamond mine, the world’s biggest and the main global source of high-quality pink diamonds.

Since opening its doors 37 years ago, the Western Australia mine produced 865 million carats of rough diamonds and became the source of about 90% of the world’s prized rose-to-magenta hued stones.

The Argyle ore body, a single pipe known as AK1, was discovered in October 1979. Alluvial operations began in 1983, open pit mining kicked off in 1985 and the mine became a fully underground operation in 2013.

Today, Rio has mined the very last of these unique diamonds from the site, located within the ancient Matsu Ranges more than 3,000 km north of Perth.

“Fifty years ago there were very few people who believed there were diamonds in Australia even fewer could have foreseen how the Argyle story would unfold,” Rio Tinto’s chief executive of Copper and Diamonds, Arnaud Soirat, said in a statement.

“To arrive at this final chapter has required vision, courage and determination to overcome significant challenges to enter new territory in diamond exploration, mining and marketing,” Soirat added.

The closure of Argyle will remove about 75% of Rio’s diamond output, yet the impact on the miner’s earnings will be negligible. Diamonds bring in only about 2% of its earnings, while iron ore the company’s main commodity accounts for almost 60%.

The operation will now undergo decommissioning and rehabilitation, which is expected to take five years. After that, Rio will monitor the site for a period yet to be defined.

End of an era

Andrew Wilson, general manager of Argyle, said the mine transformed the diamond sector since its opening, supplying gems for both ends of the market.

“A new chapter will now begin as we start the process of respectfully closing the Argyle mine and rehabilitating the land, to be handed back to its traditional custodians,” he said.

Argyle was Australia’s first large-scale diamond operation, pioneering the fly–in fly–out model, and seen as an opportunity for a workforce drawn from across the nation.

Forty years ago, in the Kimberley region of Western Australia, four diamonds in a dry creek bed ultimately led Rio’s geologists to a massive diamond deposit.

It also triggered the creation and adoption of new technology and exploration methods to make the search for diamonds more efficient across the rugged and remote Kimberley landscape.

At its peak, Argyle churned out 40% of the world’s diamond output, which made it the biggest producer by volume.

Pricy gems

Analysts and auctioneers alike expect prices for pink diamonds to go up and, potentially spur exploration.

Pink stones have already been fetching record prices in the past few years and the closure of their main source could see that trend strengthen.

The “Pink Star” went for $71.2 million at Sotheby’s Hong Kong in April 2017, setting a record for diamonds sold in auctions.

In 2018, the 18.96-carat Pink Legacy fetched $50 million at Christie’s auction house, breaking the world record for price paid per carat for a pink diamond at auction.

The Pink Legacy diamond.

At Sotheby’s Hong Kong 2019 sale, one of the star pieces described as an “exquisite 10.64 carat vivid purplish pink diamond” sold for just under $20 million.

Rio Tinto’s own data show that prices for their Argyle pink diamonds jumped by 500% from 2000 to earlier this year.

Source: DCLA

Rio Tinto Ends Mining at Argyle

 

Rio Tinto will dig the last diamonds up from the ground at its Argyle deposit in Australia on Tuesday, marking the end of an era in the industry.

The company will continue to sift through ore at the adjacent processing plant until December, and will hold the final rough sale at the end of that month, a company spokesperson said.

Rio Tinto first began operations at Argyle in 1983, with the site since becoming the world’s largest diamond mine by volume, producing more than 825 million carats of rough over its lifetime. The deposit is most famous for its colored diamonds, with more than 90% of the world’s rare pink and red diamonds originating from the mine, according to Rio Tinto.

Those pink diamonds take longer to process than general run-of-mine goods, the company noted. Rio Tinto will continue to sell them into the coming year, and will hold its final Argyle Pink Diamonds Tender in 2021.

Once Rio Tinto completes the final production from Argyle, it will undertake a decommissioning, dismantling and rehabilitation process that will last approximately five years.

Source: DCLA

Rio Tinto Ends Mining at Argyle

 

Rio Tinto will dig the last diamonds up from the ground at its Argyle deposit in Australia on Tuesday, marking the end of an era in the industry.

The company will continue to sift through ore at the adjacent processing plant until December, and will hold the final rough sale at the end of that month, a company spokesperson said.

Rio Tinto first began operations at Argyle in 1983, with the site since becoming the world’s largest diamond mine by volume, producing more than 825 million carats of rough over its lifetime. The deposit is most famous for its colored diamonds, with more than 90% of the world’s rare pink and red diamonds originating from the mine, according to Rio Tinto.

Those pink diamonds take longer to process than general run-of-mine goods, the company noted. Rio Tinto will continue to sell them into the coming year, and will hold its final Argyle Pink Diamonds Tender in 2021.

Once Rio Tinto completes the final production from Argyle, it will undertake a decommissioning, dismantling and rehabilitation process that will last approximately five years.

Source: DCLA

Rare Argyle pink diamonds released ahead of mine closure

 

Australian Diamond Portfolio is set to showcase a selection of the last pink diamonds to be unearthed in Australia before Rio Tinto closes the Argyle mine in Western Australia.

It is rumoured that final excavation at the Argyle mine will take place on November 2.

Sydney-based Australian Diamond Portfolio will curate a set of pink diamonds as part of The Legacy Collection, with affordable prices ranging from $1000 to $10,000.

Coveted for its distinctive colour and coupled with its rarity, the pink diamond is one of the most elusive gemstones in the world, according to Australian Diamond Portfolio.

“Unlike yellow diamonds, which comprise over 60 per cent of all fancy colour diamonds produced, natural pinks fall into the same category as blues and reds for their extreme rarity,” it added.

“… The richer the ‘pink’, the rarer and more valuable the stone. Nowhere else in the world can you find pinks with such character and depth of colour and vibrance of tone as those from the Argyle mine.

“Even if a new mine was to be discovered in the near future, it would still take a minimum 10-15 years to reach the actual stage of producing diamonds to sell.”

Australian Diamond Portfolio consultant and master diamond polisher David Burger said nobody could say for certain what exactly gave pink diamonds their stunning colour.

“Other diamonds get their colour from chemical impurities that absorb light, however, no similar impurities have been found in pink diamonds, leading scientists to speculate that the colour may be the result of some kind of seismic shock that altered the stone’s molecular structure instead,” he said.

The Legacy Collection will feature three shades of the Argyle pink diamonds, which are pink, purplish pink and pink rosé, with weights ranging from 0.08 to 0.14 carat.

A percentage of profits will be donated to the McGrath Foundation.

Source: DCLA

Rare Argyle pink diamonds released ahead of mine closure

 

Australian Diamond Portfolio is set to showcase a selection of the last pink diamonds to be unearthed in Australia before Rio Tinto closes the Argyle mine in Western Australia.

It is rumoured that final excavation at the Argyle mine will take place on November 2.

Sydney-based Australian Diamond Portfolio will curate a set of pink diamonds as part of The Legacy Collection, with affordable prices ranging from $1000 to $10,000.

Coveted for its distinctive colour and coupled with its rarity, the pink diamond is one of the most elusive gemstones in the world, according to Australian Diamond Portfolio.

“Unlike yellow diamonds, which comprise over 60 per cent of all fancy colour diamonds produced, natural pinks fall into the same category as blues and reds for their extreme rarity,” it added.

“… The richer the ‘pink’, the rarer and more valuable the stone. Nowhere else in the world can you find pinks with such character and depth of colour and vibrance of tone as those from the Argyle mine.

“Even if a new mine was to be discovered in the near future, it would still take a minimum 10-15 years to reach the actual stage of producing diamonds to sell.”

Australian Diamond Portfolio consultant and master diamond polisher David Burger said nobody could say for certain what exactly gave pink diamonds their stunning colour.

“Other diamonds get their colour from chemical impurities that absorb light, however, no similar impurities have been found in pink diamonds, leading scientists to speculate that the colour may be the result of some kind of seismic shock that altered the stone’s molecular structure instead,” he said.

The Legacy Collection will feature three shades of the Argyle pink diamonds, which are pink, purplish pink and pink rosé, with weights ranging from 0.08 to 0.14 carat.

A percentage of profits will be donated to the McGrath Foundation.

Source: DCLA

Rio Tinto to Sell Final Argyle Specials

 

Rio Tinto will launch a tender of large rough diamonds, including the last of its special stones from the Argyle deposit in Australia.

The miner will feature 28,399 carats of special-sized rough — weighing more than 10.8 carats — from Argyle at the sale, which will take place in October and November, Rio Tinto said Tuesday. Colored diamonds from the site, which is due to close at the end of the year, as well as a 26-carat, gem-quality rough, will also be available.

“The Argyle rough diamonds presented at this tender are a final rare and collectible offering from one of the world’s greatest diamond mines,” noted Andrew Wilson, general manager of Argyle.

Rio Tinto will also offer large diamonds from its Diavik mine in Canada, including the Diavik Helios, which will headline the sale. The 74.48-carat, fancy-yellow diamond was named for the pure yellow sunlight emitted by the mythical Greek sun god.

“The Diavik Helios is an exceptional diamond in terms of its color saturation and clarity, and will be in strong demand from colored-diamond specialists around the world,” said Patrick Coppens, general manager of sales and marketing for Rio Tinto’s diamond business.

The company will showcase the diamonds physically in Antwerp and Tel Aviv, Israel, prior to the sale. It will also hold virtual and online viewings due to Covid-19 travel restrictions, it said. 

Source: DCLA

Rio Tinto to Sell Final Argyle Specials

 

Rio Tinto will launch a tender of large rough diamonds, including the last of its special stones from the Argyle deposit in Australia.

The miner will feature 28,399 carats of special-sized rough — weighing more than 10.8 carats — from Argyle at the sale, which will take place in October and November, Rio Tinto said Tuesday. Colored diamonds from the site, which is due to close at the end of the year, as well as a 26-carat, gem-quality rough, will also be available.

“The Argyle rough diamonds presented at this tender are a final rare and collectible offering from one of the world’s greatest diamond mines,” noted Andrew Wilson, general manager of Argyle.

Rio Tinto will also offer large diamonds from its Diavik mine in Canada, including the Diavik Helios, which will headline the sale. The 74.48-carat, fancy-yellow diamond was named for the pure yellow sunlight emitted by the mythical Greek sun god.

“The Diavik Helios is an exceptional diamond in terms of its color saturation and clarity, and will be in strong demand from colored-diamond specialists around the world,” said Patrick Coppens, general manager of sales and marketing for Rio Tinto’s diamond business.

The company will showcase the diamonds physically in Antwerp and Tel Aviv, Israel, prior to the sale. It will also hold virtual and online viewings due to Covid-19 travel restrictions, it said. 

Source: DCLA

India’s rich tussle for Argyle pink diamond because mines are not forever

 

India’s super rich are rushing to grab an Argyle pink diamond before the primary source of rarest pink diamonds in the world for the last four decades, Rio Tinto’s Argyle mine in Australia closes down operations by the end of the year.

Diamond traders said demand for Argyle pink diamonds has shot up by three times among high net worth Indians compared to last year.

“Argyle pink diamond is a true love for diamond connoisseurs across the globe,” said Darshit Hirani, owner of Mumbai-based P Hirani that only deals with coloured diamonds. “In India, there are business families and high net worth individuals from places like Mumbai, Bengaluru and Hyderabad who are aware of the rarity of Argyle pink diamond and they are keen to own one. It is a collector’s item.

Investment-wise it has a lot of value too. Every year, the price of Argyle pink diamond has witnessed a double-digit growth. And once the availability dries up, prices will shoot up further,” he said.

The price of Argyle pink diamond starts at $15,000 a carat and can go up to $1 million depending upon the size and clarity.

Fugitive Indian diamond merchant Nirav Modi was one of the major buyers of Argyle pink diamonds that he had used in his jewellery brand.

For almost 40 years now, the Argyle diamond mine in Kimberley, Western Australia has been producing about 90% of the world’s most coveted pink diamonds.

The mine holds an invitation-only annual Argyle Pink Diamond Tender in which it showcases its best pink, red, and even blue stones from the preceding year.

Its closure is anticipated to disrupt the global diamond market, and the value of coloured diamonds will likely skyrocket as supply falls, traders said.

“Consumers are mostly well aware that this is a good product to purchase. Diamonds continue to enjoy their admiration as an investment,” said Milan Chokshi, who owns Moksh

Jewellery, a diamond jewellery brand that provides its customers information about the dwindling supply pipeline to repose their faith in diamonds. “When mounted in well designed and manufactured jewellery, it not only has investment value, but also artistic and emotional value,” he said.

Not only the Argyle diamonds, natural diamonds will get rarer as days go by as no new mines are coming up, traders said.

Source: DCLA

India’s rich tussle for Argyle pink diamond because mines are not forever

 

India’s super rich are rushing to grab an Argyle pink diamond before the primary source of rarest pink diamonds in the world for the last four decades, Rio Tinto’s Argyle mine in Australia closes down operations by the end of the year.

Diamond traders said demand for Argyle pink diamonds has shot up by three times among high net worth Indians compared to last year.

“Argyle pink diamond is a true love for diamond connoisseurs across the globe,” said Darshit Hirani, owner of Mumbai-based P Hirani that only deals with coloured diamonds. “In India, there are business families and high net worth individuals from places like Mumbai, Bengaluru and Hyderabad who are aware of the rarity of Argyle pink diamond and they are keen to own one. It is a collector’s item.

Investment-wise it has a lot of value too. Every year, the price of Argyle pink diamond has witnessed a double-digit growth. And once the availability dries up, prices will shoot up further,” he said.

The price of Argyle pink diamond starts at $15,000 a carat and can go up to $1 million depending upon the size and clarity.

Fugitive Indian diamond merchant Nirav Modi was one of the major buyers of Argyle pink diamonds that he had used in his jewellery brand.

For almost 40 years now, the Argyle diamond mine in Kimberley, Western Australia has been producing about 90% of the world’s most coveted pink diamonds.

The mine holds an invitation-only annual Argyle Pink Diamond Tender in which it showcases its best pink, red, and even blue stones from the preceding year.

Its closure is anticipated to disrupt the global diamond market, and the value of coloured diamonds will likely skyrocket as supply falls, traders said.

“Consumers are mostly well aware that this is a good product to purchase. Diamonds continue to enjoy their admiration as an investment,” said Milan Chokshi, who owns Moksh

Jewellery, a diamond jewellery brand that provides its customers information about the dwindling supply pipeline to repose their faith in diamonds. “When mounted in well designed and manufactured jewellery, it not only has investment value, but also artistic and emotional value,” he said.

Not only the Argyle diamonds, natural diamonds will get rarer as days go by as no new mines are coming up, traders said.

Source: DCLA

Rio Tinto unveils rare diamonds as Argyle nears end

 

Rio Tinto has showcased its rare pink, red, violet and blue diamonds from the Argyle mine in Western Australia virtually to a group of collectors, connoisseurs and luxury jewellery houses.

The 2020 Argyle Pink Diamonds Tender is a collection of the rarest diamonds from this year’s production of precious gems produced at the east Kimberley, Western Australia site.

The collection was headlined by Lot Number 1, which is the largest Fancy Vivid round brilliant diamond ever offered at the tender.

Weighing in at 2.24 carats, the Fancy Vivid Purplish Pink diamond, also known as Argyle Eternity, is the highlight of the historic collection which comprises of 62 diamonds weighing 57.23 carats.

The Argyle Pink Diamonds Tender also features six hero diamonds, recognised for their unique beauty and named so to ensure there is a permanent record of their place in history as some of the world’s most important diamonds.

In addition to Argyle Eternity, these hero diamonds include the 2.45 carat square Fancy Intense Purple-Pink Argyle Ethereal, the 1.84 carat pear shaped Fancy Vivid Purplish Pink Argyle Sakura, the 0.43 carat Argyle Emrys in greyish blue, the 0.33 carat grey-violet Argyle Skylar and 0.70 carat violet-grey Argyle Infinite.

In addition to these gems the collection also features 12 lots of carefully curated never to be repeated sets of miniature rare Argyle punk, red, blue and violet diamonds weighing in at a total of 13.90 carats.

Rio Tinto general manager of sales and marketing for diamonds Patrick Coppens noted the Argyle mine’s history of producing rare pink gems.

“The Argyle pink diamond story has continued to enthral throughout the years following the remarkable discovery of the Argyle mine in 1979,” Coppens said.

“The 2020 Argyle Pink Diamonds Tender is a collection of rare earthly treasures, intricate works of art and with a potency of colour that will be keenly sought after by collectors and connoisseurs from around the world.”

Rio Tinto chief executive of copper and diamonds Arnaud Soirat added that the Argyle mine is the world’s first and only ongoing source of rare pink, red and violet diamonds.

“We have seen and continue to see strong demand for these highly coveted diamonds, which together with extremely limited global supply, supports the significant value appreciation for Argyle pink diamonds,” Soirat said.

Due to COVID-19 restrictions the collection was previewed virtually for exclusive invitees before viewings begin later this year at the Argyle mine, in Perth and in Singapore in Antwerp.

Bids for the precious stones close on December 2 2020.

Source: DCLA

Rio Tinto unveils rare diamonds as Argyle nears end

 

Rio Tinto has showcased its rare pink, red, violet and blue diamonds from the Argyle mine in Western Australia virtually to a group of collectors, connoisseurs and luxury jewellery houses.

The 2020 Argyle Pink Diamonds Tender is a collection of the rarest diamonds from this year’s production of precious gems produced at the east Kimberley, Western Australia site.

The collection was headlined by Lot Number 1, which is the largest Fancy Vivid round brilliant diamond ever offered at the tender.

Weighing in at 2.24 carats, the Fancy Vivid Purplish Pink diamond, also known as Argyle Eternity, is the highlight of the historic collection which comprises of 62 diamonds weighing 57.23 carats.

The Argyle Pink Diamonds Tender also features six hero diamonds, recognised for their unique beauty and named so to ensure there is a permanent record of their place in history as some of the world’s most important diamonds.

In addition to Argyle Eternity, these hero diamonds include the 2.45 carat square Fancy Intense Purple-Pink Argyle Ethereal, the 1.84 carat pear shaped Fancy Vivid Purplish Pink Argyle Sakura, the 0.43 carat Argyle Emrys in greyish blue, the 0.33 carat grey-violet Argyle Skylar and 0.70 carat violet-grey Argyle Infinite.

In addition to these gems the collection also features 12 lots of carefully curated never to be repeated sets of miniature rare Argyle punk, red, blue and violet diamonds weighing in at a total of 13.90 carats.

Rio Tinto general manager of sales and marketing for diamonds Patrick Coppens noted the Argyle mine’s history of producing rare pink gems.

“The Argyle pink diamond story has continued to enthral throughout the years following the remarkable discovery of the Argyle mine in 1979,” Coppens said.

“The 2020 Argyle Pink Diamonds Tender is a collection of rare earthly treasures, intricate works of art and with a potency of colour that will be keenly sought after by collectors and connoisseurs from around the world.”

Rio Tinto chief executive of copper and diamonds Arnaud Soirat added that the Argyle mine is the world’s first and only ongoing source of rare pink, red and violet diamonds.

“We have seen and continue to see strong demand for these highly coveted diamonds, which together with extremely limited global supply, supports the significant value appreciation for Argyle pink diamonds,” Soirat said.

Due to COVID-19 restrictions the collection was previewed virtually for exclusive invitees before viewings begin later this year at the Argyle mine, in Perth and in Singapore in Antwerp.

Bids for the precious stones close on December 2 2020.

Source: DCLA

Rare Australian diamonds expected to fetch millions

Ultra rare pink Australian diamonds are expected to sell for millions of dollars at an upcoming auction.

The diamonds have generated interest among buyers as they were sourced from the Argyle site in Western Australia, which is the largest diamond mine in the country which plans to close it by 2021. 

This Argyle pink diamond necklace will also be put up for bidding on Sunday

‘We expect there to be some fierce bidding come auction day in a couple of days time in the bid to win these unique, highly desirable and collectable pieces,’ Head of Fine Art and Antiquities for Lloyds Auctions Amanda Benson said.

The Argyle mine turns out less than 0.1 per cent of the world’s diamonds, though its gems are world renowned.

Earlier this year, an incredible 28 carat ultra-rare white diamond was discovered at the site. General manager of Argyle Diamonds, Andrew Wilson, said: ‘Argyle Octavia is unique in its size, shape and beautiful provenance.’

The diamonds have generated buzz among bidders as they were sourced from Argyle Australia’s largest diamond mine in Western Australia.

Source: DCLA

Rare Australian diamonds expected to fetch millions

Ultra rare pink Australian diamonds are expected to sell for millions of dollars at an upcoming auction.

The diamonds have generated interest among buyers as they were sourced from the Argyle site in Western Australia, which is the largest diamond mine in the country which plans to close it by 2021. 

This Argyle pink diamond necklace will also be put up for bidding on Sunday

‘We expect there to be some fierce bidding come auction day in a couple of days time in the bid to win these unique, highly desirable and collectable pieces,’ Head of Fine Art and Antiquities for Lloyds Auctions Amanda Benson said.

The Argyle mine turns out less than 0.1 per cent of the world’s diamonds, though its gems are world renowned.

Earlier this year, an incredible 28 carat ultra-rare white diamond was discovered at the site. General manager of Argyle Diamonds, Andrew Wilson, said: ‘Argyle Octavia is unique in its size, shape and beautiful provenance.’

The diamonds have generated buzz among bidders as they were sourced from Argyle Australia’s largest diamond mine in Western Australia.

Source: DCLA

Kunming partners with Rio Tinto for Argyle diamonds

The world’s second-largest miner, Rio Tinto (ASX, LON, NYSE: RIO), announced that Hong Kong-based coloured diamond specialist Kunming Diamonds is now one of the company’s 13 authorized partners for Argyle pink diamonds. 

In a press release, Rio said this means Kunming will be entrusted with the care and custody of the gems. 

Established in 1987, Kunming is a global, multi-generational company that has built its business into one of Asia’s leading coloured diamond specialists. In 2019, the company was successful in acquiring the entire Argyle Pink Everlasting Collection, a one-off exclusive selection of certified Argyle pink and red diamonds. 

“This is a wonderful honour and showcases our commitment to bringing the world’s rarest diamonds to our global partners and client base,” Harsh Maheshwari, director of Kunming, said in the brief.

Source: DCLA