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Market appetite for rare diamonds remains strong, says Rio Tinto

20 November 2019


Argyle Enigma™

2019 Hero Stones from the Argyle Pink Diamonds Tender 2019

 

Australian miner Rio Tinto reported sparkling results for its Argyle Pink Diamonds Tender 2019, reflecting strong global demand for rare pink and red diamonds.

The company’s 35th tender, which showcased 64 diamonds from its Argyle mine, saw double-digit growth in the number of bids, with successful bidders from nine countries.

The most valuable diamond in the collection – Argyle Enigma™ – was won by Australia-based Argyle Pink Diamonds partner, Blue Star & Kiven Diamonds. Blue Star & Kiven Diamonds also won Argyle Verity™.

Almost the entire world supply of rare pink, red and violet diamonds come from Rio Tinto’s Argyle diamond mine, which is closing by end-2020. Over the past 19 years, the value of Argyle pink diamonds sold at tender has appreciated by more than 500 percent, outperforming all major equity markets, according to Rio Tinto.

The 2019 Argyle Pink Diamonds Tender collection was accompanied for the first time by an exclusive selection of smaller Argyle pink and red diamonds. Known as The Argyle Pink Everlastings™ Collection, it comprised 64 lots of carefully curated diamonds weighing 211 carats in total and was sold in its entirety to Hong Kong-based fancy colour diamond specialist, Kunming Diamonds.