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Rio Tinto Sees Strong Bidding for Argyle Pinks

Nov 20, 2019 9:21 AM   By Rapaport News
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Rio Tinto saw a double-digit increase in the number of bids at its 2019 Argyle Pink Diamond Tender, the company reported.

The miner offered two collections at the tender, with one buyer acquiring all 64 lots of the Everlasting Collection, comprising 211 carats of smaller diamonds. The center piece Hero stones included six pink and red diamonds weighing 1.07 carats to 2.01 carats.

Australia-based Blue Star & Kiven Diamonds, a subsidiary of Aurostar Group, bought the Argyle Enigma, the most valuable diamond in the sale, Rio Tinto said Wednesday. The company also won the Argyle Verity.

“To have acquired two of the last Argyle pink diamonds to ever be unearthed, and one of the few fancy-red Argyle diamonds in existence, is the ultimate privilege,” noted Blue Star & Kiven Diamonds director Ron Kiven.

Meanwhile, Hong Kong-based fancy-colored-diamond dealer Kunming Diamonds purchased the entire Argyle Pink Everlasting collection. Rio Tinto did not disclose the sales price for any of the lots.

“With the imminent closure of the Argyle mine, a collection such as this deserves to be showcased to the world and we look forward to announcing our plans at a later date,” said Harsh Maheshwari, director of Kunming Diamonds.

The Argyle mine in Western Australia is nearing the end of its operational life, with Rio Tinto expecting to produce diamonds there until the end of 2020.

Image: The Argyle Eniigma. (Rio Tinto)
Tags: Argyle Enigma, Argyle Pink Diamond Tender, Argyle Pink Everlasting collection, Argyle Verity, Aurostar Group, Blue Star & Kiven Diamonds, Everlasting collection, Harsh Maheshwari, Kunming Diamonds, Rapaport News, Rio Tinto, Ron Kiven
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