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Rio gets record prices for Argyle diamonds

28th October 2014

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

  

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PERTH (miningweekly.com) – Mining giant Rio Tinto on Tuesday reported the highest average price per carat from its most recent collection of rare pink and red diamonds from the Argyle mine.

The company’s thirtieth anniversary collection, which consisted of 54 diamonds, achieved a record number of more than 600 bids, from ten countries, the miner said.

“We are delighted with this result which reflects the global appeal and enduring value for these increasingly rare and iconic gems,” Rio diamond division MD Jean-Marc Lieberherr said.

While bids and total values remain confidential, it can be revealed that overall prices for Argyle’s signature pink diamonds have more than tripled since 2000, Lieberherr said.

The most valuable diamond in the 2014 collection was the Argyle Cardinal, a 1.21 ct radiant cut fancy red diamond, which was sold to one of Argyle’s exclusive retailers for an undisclosed value.

In its 30-year history the Argyle Pink Diamonds Tender has offered only 13 fancy red diamonds, with just three of these gems larger than one carat.

Edited by Creamer Media Reporter

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