Argyle Pink Diamonds Tender Delivers Record Results

Rio Tinto’s 2018 Argyle Pink Diamonds Tender collection of 63 rare pink, red and violet diamonds from its Argyle mine in Australia has delivered a record result reflecting strong global demand for fancy colored diamonds, the miner said.

Its hero diamonds were named:

• Lot 1: Argyle Muse™, 2.28 carat oval shaped Fancy Purplish Red diamond
• Lot 2: Argyle Alpha™, 3.14 carat emerald shaped Fancy Vivid Purplish Pink diamond
• Lot 3: Argyle Maestro™, 1.29 carat square radiant shaped Fancy Vivid Purplish Pink diamond
• Lot 4: Argyle Alchemy™, 1.57 carat princess shaped Fancy Dark Gray-Violet diamond
• Lot 5: Argyle Odyssey™, 2.08 carat round brilliant shaped Fancy Intense Pink diamond
• Lot 6 : Argyle Mira™, 1.12 carat radiant shaped Fancy Red diamond

Sold to an undisclosed buyer, the Argyle Muse, a 2.28-carat fancy purplish red diamond was the most valuable diamond in the Tender’s 34-year history. When it comes to value, the 2018 collection of the finest pink, red and violet diamonds from the iconic Australian mine continued its trajectory of double-digit price growth. 

Over the past 18 years, the value of Argyle pink diamonds sold at Tender has appreciated over 400%, outperforming all major equity markets.

“The 2018 Argyle Pink Diamonds Tender was highly sought after with record results that underscore the value of these gems in the history of rare coloured diamonds,” said Rio Tinto's Copper & Diamonds Chief Executive, Arnaud Soirat, in a media statement.

Current estimates indicate sufficient economic reserves at the mine to support production through to the end of 2020.

Source: Rio Tinto, Idex Online

Picture courtesy: Rio Tinto