News

Advanced Search

Rio Tinto Unveils Roster of Pink Diamonds

Jul 14, 2019 8:04 AM   By Rapaport News
Comment Comment Email Email 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)
Comment Comment Email Email 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
Rapaport LogoRapaport Weekly Market Comment
Nov 21, 2019
Market sentiment improves as focus shifts to retail ahead of Thanksgiving weekend. Jewelers preparing Black Friday promotions,
Antwerp BourseDecline in Belgium Trade Intensifies
Nov 20, 2019
Belgium’s diamond trade slowed at a higher rate in October, reflecting global market weakness. Polished exports fell
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2019 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.