Home » Rio Tinto Unveils Rare Diamonds from Argyle and Diavik Mines

Rio Tinto Unveils Rare Diamonds from Argyle and Diavik Mines

by Victor Adetimilehin

Rio Tinto, one of the world’s leading mining companies, has announced a new sales event for some of its most exquisite diamonds. The event, called The Beyond Rare tender, features 48 lots of exceptional polished diamonds, including some of the last pink and red diamonds from the Argyle mine in Australia and yellow diamonds from the Diavik mine in Canada.

The Argyle mine, which closed in 2020 after 37 years of operation, was the only source of rare pink and red diamonds in the world. These diamonds are highly sought after by collectors and investors for their beauty and scarcity. According to Rio Tinto, less than 0.01% of the Argyle mine’s production was pink or red diamonds.

The Diavik mine, located in the remote Arctic region of Canada, is known for its high-quality white diamonds. However, it also produces some rare yellow diamonds, which make up less than 1% of its output. Yellow diamonds are valued for their vibrant color and brilliance.

The Beyond Rare tender is a new chapter for Rio Tinto’s diamonds business, which has a rich history of innovative sales and marketing events. The tender takes its inspiration from the art world, with each polished diamond being an extraordinary natural work of art with an esteemed provenance and a captivating story of rarity.

The first collection of The Beyond Rare tender is titled The Art Series. It comprises 87 diamonds, weighing 29.96 carats in total, and includes seven ‘Masterpieces’ comprising sets of Argyle Pink Diamonds and yellow Diavik diamonds, selected for their unique beauty and accompanied by bespoke artwork. The collection also includes 11 perfectly matched pairs of colored diamonds and 30 single diamonds, including one remarkable Fancy Red Argyle diamond.

The 48 lots will be showcased in Australia, Switzerland and Belgium, with bids closing on November 20. Rio Tinto expects strong demand from the world’s finest jewelers, collectors and diamond connoisseurs.

Rio Tinto’s diamond business GM of sales and marketing, Patrick Coppens, said: “The market fundamentals that drive value appreciation for Argyle pink and red diamonds have never been stronger – a combination of severely constrained supply, with the closure of Argyle, and unwavering global demand for truly scarce gems.”

He added: “The inclusion in the inaugural Beyond Rare Tender of two Fancy Intense Yellow diamonds from Rio Tinto’s Diavik diamond mine is a beautiful counterpoint to the pink and red Argyle diamonds from the remote East Kimberley region of Western Australia.”

Rio Tinto is not the only mining company that is offering rare colored diamonds to the market. In September, Lucara Diamond Corp. sold a 62.7-carat fancy pink diamond for $34.9 million at a tender in Antwerp, Belgium. The diamond, named Boitumelo, which means “joy” in Setswana, was recovered from the Karowe mine in Botswana.

Colored diamonds are among the most valuable gemstones in the world. They are formed by natural processes that involve trace elements, radiation or pressure in the earth’s crust. They are also symbols of hope and resilience for the mining industry and the communities that depend on it.

Source: [ Mining Weekly ]  


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