Advanced Search

Rio Tinto’s Blue Diamond Tender Exceeds Expectations

Apr 28, 2009 5:08 AM   By Avi Krawitz
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Rio Tinto’s recent tender of rare blue diamonds from its Argyle mine in Australia “far exceeded” expectations, the company reported Tuesday. The "Once in a Blue Moon" collection, comprising 16 lots of blue and violet diamonds weighing 287 carats, garnered record prices, Rio spokespersons said. The company did not disclose the value of the sale.

“We have been overwhelmed by the enthusiasm from new and existing colored-diamond collectors around the globe, especially in such a challenging economic environment,” said Josephine Archer, sales and marketing manager for Argyle Pink Diamonds. “With only 10 years' production left at the Argyle mine, there is clearly a growing awareness that the opportunities to purchase these collections are rapidly diminishing.”

Rio Tinto explained that diamonds for the tender were sourced from several years of production at Argyle, which is famous for its output of pink diamonds. The company recently reported that production at Argyle doubled to 4.4 million carats in the first quarter of 2009 due to the processing of higher-grade ore at the mine during the period.

Tags: Argyle, Australia, Collections, Production, Rio Tinto
Similar Articles
Gem Diamonds 13.33ct pink diamondLetšeng Pink Sells for Almost $9M
Mar 14, 2019
Gem Diamonds has announced the sale of a 13.33-carat pink diamond, discovered in February at its mine in Lesotho,
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.