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Rio Tinto Diamond Coins Have $1.4M Price Tag

Miner teams up with Perth Mint to release precious-metal coins celebrating Australia.
Jun 7, 2017 4:15 AM   By Rapaport News
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RAPAPORT...
Rio Tinto has teamed up with the Perth Mint to release a $1.4 million (AUD 1.8 million) collection of coins featuring three colored diamonds from the Argyle mine.

The “Australian Trilogy” comprises a trio of coins from gold, platinum and rose gold, hand-crafted with pink, purple-pink and violet diamonds from the Rio Tinto-owned mine in Western Australia. Weighing 1 kilogram each, they portray images of a koala, a kangaroo and a kookaburra. The pieces are legal tender under the Australian Currency Act 1965, Rio Tinto said Wednesday.

The collection is available for sale from the mint, which will only release one edition of the set.

“It is a beautiful symbol of the unique treasures of Western Australia and the extraordinary provenance of Australian diamonds and precious metals,” said Andrew Kite, Rio Tinto’s managing director for copper and diamonds.

The Perth Mint is one of Rio Tinto’s “select ateliers” for its Argyle diamonds, meaning it has the right to sell stones originating from the mine. Last year it collaborated with the rough producer to release a gold coin featuring a 0.54-carat red diamond from Argyle, valued at $755,000 (AUD 1 million).
Tags: Andrew Kite, Argyle, Argyle mine, Australia, Australian Trilogy, coins, gold, Perth, Perth Mint, platinum, Rapaport News, Rio Tinto, rose gold, Western Australia
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