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Argyle Pink Tender Results Come In As Leibish Wins 26 Stones

Nov 3, 2015 1:43 AM   By Rapaport News
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RAPAPORT... Fancy-color diamond seller Leibish & Co. has won 26 out of 65 available lots at Rio Tinto’s Argyle pink diamond tender this year, it said in a statement November 2.

The Ramat Gan-based online retailer and wholesaler secured the bids in a strategic partnership with Hong Kong’s Kunming Trading Co. The annual sale opened in June and bidding closed on October 21. Viewings were held in Sydney, Hong Kong, New York and Perth, Rio Tinto said in a statement June 26.

Among its purchases were a 0.74-carat fancy deep pink radiant and a 0.54-carat fancy vivid purplish pink heart.

The Argyle mine in Western Australia produces close to 90 percent of the pink diamonds available in the market, according to the Leibish statement. Rio Tinto, its owner, said October 16 it had put final product processing at the mine on hold in the fourth quarter and reduced its forecast of annual share of diamond production for the year from 20 million to 18 million carats.

Leibish won two stones from a tender in 2014, seven in 2013, 17 in 2012, it added in the statement. It also won four bids in this year’s “Once in a Blue Moon” tender, a rarely held Rio Tinto sale at which blue diamonds from the Argyle mine are offered, the statement added.
Tags: Argyle, Australia, Leibish & Co., Rapaport News, Rio Tinto, Tenders
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