RapNet


Rapaport News

 

Polished Markets

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Rio Tinto Unveils Roster of Pink Diamonds

Argyle tender comes ahead of mine’s closure in 2020.
Jul 14, 2019 8:04 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Rio Tinto has launched what’s likely to be one of its last annual pink-diamond tenders, as the company gears up to close its flagship Argyle mine.

The Argyle Pink Diamonds Tender, which has run since 1984, comprises rare polished colored diamonds originating from the mine in Australia. This year’s edition, which Rio Tinto unveiled Friday at the mine site, features 64 stones weighing a combined 56.28 carats, including three fancy-red diamonds, it said.

The deposit is due to shut next year, having operated since 1983. It’s the world’s largest diamond mine by volume, producing 14.1 million carats in 2018. Most of its output is lower-quality white diamonds, but it’s more famous for its pink, red and purple goods. More than 90% of the world’s rare pink diamonds are from the mine, according to Rio Tinto.

“Rio Tinto’s Argyle mine is the first and only ongoing source of rare pink diamonds in history,” Arnaud Soirat, Rio Tinto’s CEO for copper and diamonds, said in a statement Friday. “With the life cycle of this extraordinary mine approaching its end, we have seen, and continue to see, unstoppable demand for these truly limited-edition diamonds, and strong value appreciation.”

The closure is likely to have a “dramatic” effect on the availability of pink diamonds, Soirat noted in an interview with Bloomberg on Friday. “You can imagine the laws of supply and demand will apply, and you can imagine the impact that will have on those very rare pink, red, blue and purple diamonds,” the news service quoted Soirat as saying.

The top items at this year’s sale include a modified radiant, 1.75-carat, fancy-red diamond, named the Enigma, and a heart-shaped, 1.48-carat, fancy-vivid-purplish-pink diamond called Amari. The company has named the 2019 collection “The Quest for the Absolute.” It will showcase the diamonds in Hong Kong, New York and Perth, Australia, with bids closing on October 9.

The top six lots — the “hero diamonds” — are as follows:

Lot 1: The Argyle Enigma, a modified radiant, 1.75-carat, fancy-red diamond
Lot 2: The Argyle Amari, a heart-shaped, 1.48-carat fancy-vivid-purplish-pink diamond
Lot 3: The Argyle Elysian, a modified cushion-shaped, 1.20-carat, fancy-vivid-pink diamond
Lot 4: The Argyle Verity, an oval-shaped, 1.37-carat, fancy-vivid-purplish-pink diamond
Lot 5: The Argyle Opus, a round-shaped, 2.01-carat, fancy-intense-pink diamond
Lot 6: The Argyle Avenoir, an oval-shaped, 1.07-carat, fancy-red diamond

Image:  The “hero diamonds” from the 2019 Argyle Pink Diamonds Tender. (Rio Tinto)
Print Print Facebook Facebook Twitter Twitter Share Share
Tags: Argyle, Argyle Pink Diamonds Tender, colored diamonds, mining, Rapaport News, rare pink diamonds, Red Diamonds, Rio Tinto
Similar Articles
Alrosa purple diamondAlrosa Offers 15ct. Purple-Pink Diamond
Aug 13, 2019
Alrosa is preparing to sell a rare, 14.83-carat pink laterthis year, as the...
Hong Kong Riots Cast Cloud over Show
India Polished Trade Slips to Seven-Month Low
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us