PERTH (miningweekly.com) – Diversified miner Rio Tinto on Thursday reported record-breaking results for its 2021 Argyle pink diamonds tender, which featured a collection of 70 rare pink and red diamonds from the now-closed Argyle mine.
The 2021 collection, titled The Journey Beyond, is an historical collection comprising the pinnacle of the Argyle production, mined in its final year of operations, before closing in November 2020.
The tender delivered record-breaking price performance across individual diamonds and for the overall collection, and the diamonds were fiercely contested around the world in a series of virtual and face-to-face viewings, Rio said.
“We are delighted with these results that are a reflection of the beauty, rarity and unique provenance of Argyle pink diamonds. They are also a testament to all those involved in taking these gems from a mine in remote Western Australia to the world,” Rio CEO of minerals Sinead Kaufman said.
Meanwhile, Rio on Thursday also reported that its entire 2021 Once in a Blue Moon Tender collection of 41 lots of Argyle blue and violet diamonds, had been won by a single bidder, the Hong Kong fancy coloured diamond specialist, Kunming Diamonds.
Kunming Diamonds’ history-making global bid for the 24.88 ct of final “beyond rare” blue jewels from the East Kimberley region of Western Australia is a significant moment in the history of the Argyle mine and the coloured diamond industry, Rio said.
The Argyle mine sporadically produced small blue and violet diamonds in an array of shades and with the closure of Argyle it is extremely unlikely that there will ever be another collective offering of iconic gems in this colour spectrum from a single mine, Rio added.
“The rarity and beauty of the Once in a Blue Moon diamonds speaks volumes. They are highly coveted, the ultimate limited edition and we congratulate Kunming Diamonds on their global bid,” Kaufman said.
Almost the entire world’s supply of rare pink, red and violet diamonds come from Rio’s Argyle diamond mine which ceased production in November 2020.
With 37 years of Argyle pink diamond production in global markets Rio Tinto made the decision to retain the Argyle Pink Diamond brand and maintain its position as a pre-eminent fancy coloured diamond specialist.
“We are extremely proud of the Argyle Pink Diamonds business and its legacy will continue as we retain and manage the brand through a proprietary Argyle pink diamonds trading platform, certification processes and creative collaborations with our trusted partners,” said Kaufman.
In addition to owning the Argyle Pink Diamonds brand Rio Tinto is the majority owner and operator of the Diavik diamond mine in the Northwest Territories of Canada and has signed an exploration joint venture agreement with Endiama, the national diamond mining company of Angola, to evaluate the Chiri kimberlite in the Lunda Sul Province of Angola.