Jul 13, 2018

Rio Tinto in the pink with new offering from Argyle

Rio Tinto in the pink with new offering from Argyle

Rio Tinto has unveiled the largest vivid pink diamond since its Argyle Pink Diamonds Tender began in 1984.

The 3.14 carat polished emerald cut diamond, known as The Argyle Alpha, is among a line-up of 63 rare pink, red and violet diamonds in the 2018 tender.

“Rio Tinto’s Argyle mine is the world’s only source of these highly coveted pink, red and violet diamonds and we expect considerable interest in this year’s collection,” Rio Tinto chief executive J-S Jacques said.

“The combination of strong demand and extremely limited world supply continues to support significant value appreciation for Argyle pink diamonds.”

The Argyle diamond mine in the Kimberley region of Western Australia is the world’s largest supplier of natural coloured diamonds. However operations are only expected to stretch until 2020.

The 63 diamonds in the 2018 tender weigh a total of 51.48 carats and reports indicate they could fetch around $100 million in total.

The priciest jewel ever sold at auction worldwide was the 59.6-carat Pink Star diamond which fetched $US71.2 million when it went under the hammer in Hong Kong last year.

The largest pink diamond ever recovered from the Argyle mine was the 12.76-carat Pink Jubilee (pictured below).

 

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