Rio Tinto’s Beyond Rare diamond tender delivers strong results

Diversified mining company Rio Tinto’s second Beyond Rare tender has achieved a strong result, underscoring the rarity and unique provenance of the diamonds on offer.

Diversified mining company Rio Tinto’s second Beyond Rare tender has achieved a strong result, underscoring the rarity and unique provenance of the diamonds on offer.

The auction, which featured some of the world’s most coveted natural fancy coloured diamonds, also showcased the continuing global demand for these rare treasures.

The collection, which comprises 76 diamonds across 48 lots, included an exceptional mix of pink, red, and violet diamonds from the now-closed Argyle diamond mine in Australia, as well as white and yellow diamonds from Rio Tinto’s Diavik mine in Canada.

For the first time, the tender also included seven “Old Masters”, notable historic diamonds from the Argyle mine, further elevating the event’s appeal to collectors.

The tender saw successful bids from 12 bidders spanning Australia, Europe, Japan, Hong Kong, the Middle East, Singapore, and North America.

“The continued strong global interest in highly collectible natural coloured diamonds and the resulting value creation, reflects their stature as works of art to be treasured for future generations,” commented Rio Tinto Minerals CEO Sinead Kaufman.

One standout lot, Lot 40, which featured a 4.04-ct pear-shaped pure white diamond from the Diavik mine, alongside two rare pear-shaped violet diamonds from the Argyle mine, was entrusted to Danish luxury jeweller Hartmanns. The company will work with Glajz, an Argyle Pink Diamonds Icon Partner, to create a one-of-a-kind heirloom jewellery piece from these diamonds.

“I am honoured to be creating a jewelled treasure that reflects each magnificent birthplace of these three esteemed diamonds – Argyle in the remote East Kimberley region of Western Australia and Diavik, just below the Arctic Circle on the frozen edge of the earth in Canada’s Northwest Territories,” said Hartmanns owner Ulrik Hartmann.

Rio Tinto’s Argyle diamond mine, which ceased production in November 2020, was the source of nearly entirely the world’s total supply of rare pink and red diamonds. With 37 years of production, Rio Tinto continues to manage the Argyle Pink Diamonds brand, facilitating sales of remaining inventory and collaborating with prominent jewellers globally.

In addition to owning the Argyle Pink Diamonds™brand, Rio Tinto is the majority owner and operator of the Diavik mine in Canada. The company also continues to explore new opportunities in the diamond sector, with a recent joint venture agreement with Endiama, the national diamond mining company of Angola, to explore the Chiri kimberlite in Angola’s Lunda Sul province.

Source: Miningweekly

Rio Tinto buys back famed Argyle pink and red diamonds for latest tender due to dwindling stockpile

Rio Tinto buys back famed Argyle pink and red diamonds

A select few with deep pockets are rolling into Perth to snap up the latest collection of Argyle diamonds, as unsold inventory of the ultra-rare gems whittles down to a “teaspoon”.

A top secret location in the CBD this week will host prospective buyers from Australia and overseas vying for 76 polished pink, red, and other coloured diamonds — predominantly unearthed at Rio Tinto’s shuttered Argyle mine in the east Kimberley region.

Argyle operated for 37 years up until 2020, and about 95 per cent of the world’s circulation of pink and red diamonds can be traced back to the mine.

Each carat of an Argyle pink or red can easily fetch a multi-million-dollar sum. Earlier this year a 1.56ct Argyle red sold for $US4.3 million ($6.4m) in Geneva, equating to $US2.7m a carat. One of the pinks in the latest collection weighs 2.63ct.

But not all of the famed gems sold are destined for an extravagant jewellery piece, with many opting to keep their purchase locked away in a vault as an investment.

“We have seen double digit price growth year on year for the past 20 years . . . and we seeing demand continue unabated for these stones,” Rio Tinto diamond sales and business development manager Michelle Sherring told The West Australian.

“The constrained supply means the value of pink diamonds has eclipsed any kind of comparable equity indices, like the Dow Jones and Hang Seng et cetera, over the years.”

Since mining ceased at Argyle Rio has touted each of its annual tenders for the diamonds as being one of the last.

“We now have a mere teaspoon (of unsold Argyle pinks and reds) remaining within our own inventory,” Ms Sherring said.

Stockpiles are now so low that for the first time ever the collection includes diamonds Rio has bought back from customers.

“Including the secondary market is a new concept for this year, we have very strong relationships with our long running customers,” Ms Sheering said.

“So I approached a handful of them at the beginning of the year in terms of the concept and we have over these years understood where some of the important diamonds sit and which safes they might be held in.

“It was a process of curation, and ultimately, what we have is a set of seven round diamonds which represent the real pinnacle of rarity.”

Of the 76 stones in the latest collection, 74 are from Argyle — the pink, red and blue diamonds — while the remaining two are a yellow and white diamond sourced from Rio’s Daivik mine in Canada.

Rio is displaying the collection — comprising 48 separate lots and weighing a combined 39.44 carats — on an invite-only basis in Perth, London, Singapore and Belgium. Bids for the tender will close on November 18.

Murray Rayner, who was previously the chief geologist for Argyle Diamonds, last year told The West that the existence of Argyle’s pink diamonds was due to a “fluke of nature” that will be extremely difficult to replicate.

Mr Rayner said the pink diamonds emerged around 1.8 billion years ago when the Kimberley collided into Australia, bringing pink diamonds closer to the Earth’s surface.

These pink diamonds were originally created at one point three billion years ago when our planet’s once-connected continents began to rip apart, with the intense pressure from this event causing the pink colouration in the diamonds.

“To find another deposit would be an extraordinarily rare event in its own right, we’ve looked over the last few decades without any success,” he said.

Source: thewest.com.au

Fancy Color Diamond Prices: First Drop in Almost Four Years

Fancy yellow diamond
Fancy yellow cushion cut diamond

The Index tracking fancy color diamond prices fell during the last quarter, for the first time in almost four years.

The Fancy Color Diamond Index, which monitors pricing data for of all sizes and intensities of fancy color diamonds, fell by 0.7 per cent during Q2 2024, according to an update published yesterday (30 July) by the Fancy Color Research Foundation (FCRF).

The last recorded fall was back in Q3 2020 – in the depths of the Covid crisis – when the Index also fell by 0.7 per cent. That came after two quarters when sales were too slow for the FCRF to produce figures at all.

The trend over the last year or so has been of slower growth. The Index was up 1.3 per cent in Q1 2023, followed by +0.5 per cent (Q2); +0.4 per cent (Q3); +0.1 per cent (Q4) and +0.1 per cent (Q1 2024).

The New York-based FCRF played down the Q2 dip, describing it as “a minor fluctuation when compared to broader market movements”.

It said in a statement: “This stability is particularly evident relative to the sharper declines in the white diamond market and the Dow Jones index, which fell by 3.6 per cent and 1.7 per cent respectively during the same period.

Yellow diamonds (all sizes, all intensities) suffered the biggest drop, down 1.7 per cent. Pinks and blues were both down 0.3 per cent.

The FCRF said its Index had enjoyed an overall increase of 211 per cent since it began compiling data in 2005. During that time it said the price of yellow diamonds had risen by 56 per cent, pinks by 398 per cent and blues by 248 per cent.

Source: Idex

Investor uncertainty in challenging market

It’s hard to believe that COVID first hit just over three years ago.

After the original shock that the pandemic caused, especially when lockdowns were put in place in large parts of the world in early 2020, markets, rather than continuing to crash, instead surged higher.

Stimulus programs from both central banks and central governments, which were enormous in scope, were the primary cause of this surge, with the vast quantity of dollars fed into the system leading to one of the biggest rallies in the share market, cryptocurrencies, and even real estate on record.

Since late 2021 it’s been tough going though, with the last twelve or so months particularly challenging for most investors.

A chart titled "Trend: Allocation of new client inflows" with in formation in response to the following question: "In the last year, roughly what proportion of the new client inflows you advised on went into each category? Averages among financial advisers".

Read the full article : DiamondPortfolio

Final Argyle Pink Tender Sees Record Result

Argyle pink tender

Rio Tinto achieved record-breaking figures at its 2021 Argyle Pink Diamonds Tender, with prices strong amid dwindling supply from the mine.

Once in a Blue Moon 

The Australian miner offered 70 rare pink and red diamonds at the last-ever edition of the tender, which follows Argyle’s closure in November 2020. The “historical” collection, called The Journey Beyond, comprised the final diamonds mined during the Western Australian deposit’s last year of operation, Rio Tinto said Thursday.

“The 2021 Argyle Pink Diamonds Tender delivered a record-breaking price performance across individual diamonds and for the overall collection,” the company noted. “The diamonds were fiercely contested around the world in a series of virtual and face-to-face viewings.”

A total of 19 bidders from nine countries successfully acquired lots, with prices maintaining their upward trajectory, Rio Tinto explained. Australian jeweler Calleija bought several stones, including the Argyle Eclipse, a radiant-shaped, 3.47-carat, fancy-intense-pink diamond, and the Argyle Bohème, a radiant-shaped, 1.01-carat, fancy-red diamond.

A veteran bidder in Singapore took home both the Argyle Stella, a square radiant-shaped 1.79-carat, fancy-vivid-purplish-pink diamond, and the Argyle Solaris, a radiant-shaped, fancy-intense pink weighing 2.05 carats. Another, based in the US, won the Argyle Lumiere, a square radiant-shaped, 2.03-carat, fancy-deep-pink diamond.

Alongside the pink-diamond tender, Rio Tinto sold a record-breaking collection of 41 blue and violet diamonds from Argyle to a single buyer. Hong Kong fancy-color specialist Kunming Diamonds purchased the entire 24.88-carat lot in a “history-making global bid” at the separate Once in a Blue Moon tender, the miner said. The stones are the final blues to come from Argyle. Kunming also won nine pink lots.

“I don’t think it’s ever been so competitive, so mind-blowing in terms of how the prices have been, how much competition we faced, and there was a lot of emotional premium everyone added, as this was the ultimate tender,” Harsh Maheshwari, executive director of Kunming, told Rapaport News. “So I guess everyone felt that they would like to at least own a few tender stones while they had the opportunity.”

It’s rare for there to be so many successful bidders at the pink tender, Maheshwari noted. Usually, only half that number would take home diamonds.

“This basically shows how varied the prices must have been, and that these stones went to jewelers from all over the world,” Maheshwari added.  

Source: Diamonds.net

Rio Tinto dazzles in Antwerp with its finest Argyle pink, red and blue diamonds

The Hero Diamonds from the 2021 Argyle Pink Diamonds Tender

Rio Tinto’s final Argyle Pink Diamonds Tender collection of rare pink, red, blue and violet diamonds is being showcased to connoisseurs, collectors and luxury jewellers in Antwerp, Belgium.

The Argyle Pink Diamonds Tender, an annual invitation-only event for the past 38 years, is widely considered to be the most anticipated diamond sale in the world, showcasing the pinnacle of Argyle’s production to an exclusive group of collectors, diamond connoisseurs and luxury jewellery houses.

Mining ceased at Argyle on 3 November, 2020 and the 2021 Argyle Pink Diamonds Tender is the final collection of the rarest diamonds from the final year of Argyle operations.

Patrick Coppens, General manager, Sales and Marketing for Rio Tinto’s diamonds business said “The first Argyle Pink Diamonds Tender was held in Antwerp in 1984 and I am delighted to host the final epic collection in Antwerp. Over the past 38 years Argyle pink diamonds have pushed the boundaries of rarity and value appreciation to new extremes.

“When you consider the number of diamonds presented at the annual Argyle Pink Diamonds Tender since 1984 would barely fill two champagne flutes, you begin to grasp the rarity and the tremendous gravitas of this final collection. Many of the invitees have participated in the annual Argyle Pink Diamonds Tender for more than three decades and across generations, so it is an emotional moment in the history of Rio Tinto’s Argyle Pink Diamonds business and the natural fancy coloured diamond industry.”

Comprising 70 diamonds weighing 81.63 carats, the 2021 Argyle Pink Diamonds Tender has a record number of diamonds larger than one carat. The collection is headlined with Lot Number 1, Argyle Eclipse™, a 3.47 carat diamond that is the largest Fancy Intense Pink diamond ever offered at the Tender.

Titled The Journey Beyond, the 2021 Argyle Pink Diamonds Tender takes its reference from the 1.5 billion year journey from creation to discovery and their remarkable impact on the world diamond and jewellery history. The Tender collection comprises five ‘hero’ diamonds selected for their unique beauty and named to ensure there is a permanent record of their contribution to the history of the world’s most important diamonds:

Lot 1: Argyle Eclipse™, 3.47 carat, radiant shaped Fancy Intense Pink diamond

Lot 2 : Argyle Stella™ 1.79 carat, square radiant shaped Fancy Vivid Purplish Pink diamond

Lot 3: Argyle Lumiere™ 2.03 carat, square radiant shaped Fancy Deep Pink diamond

Lot 4: Argyle Solaris™ 2.05 carat, radiant shaped Fancy Intense Pink diamond

Lot 5: Argyle Bohème™ 1.01 carat, radiant shaped Fancy Red diamond

Also offered alongside the 2021 annual Argyle Pink Diamonds Tender are 41 lots of carefully curated Argyle blue diamonds, weighing 24.88 carats in total. Titled Once in a Blue Moon, these are the very last blue and violet diamonds to emerge from the Argyle mine.

Both face to face and virtual viewings are being conducted in Antwerp catering for those markets where COVID-19 restrictions prevent travel. Bids close on October 4, 2021.

Source: riotinto

Rio Tinto reveals its final showcase of Argyle pink, red and blue diamonds

argyle heroes tender

Rio Tinto has unveiled a preview of its final showcase of rare Argyle pink, red and blue diamonds from its iconic mine in the remote east Kimberley region of Western Australia.

Mining ceased at Argyle on 3 November, 2020 and the 2021 Argyle Pink Diamonds Tender is the final collection of the rarest diamonds from the final year of Argyle operations.

The Argyle Pink Diamonds Tender, an annual invitation-only event for the past 38 years, is widely considered to be the most anticipated diamond sale in the world, showcasing the pinnacle of Argyle’s production to an exclusive group of collectors, diamond connoisseurs and luxury jewellery houses.

Rio Tinto puts last diamonds mined at iconic Argyle up for sale
Argyle Eclipse, 3.47 carat, radiant shaped Fancy Intense Pink diamond.

Chief executive of Rio Tinto Minerals, Sinead Kaufman said,“I am delighted to launch this historic collection of extraordinary diamonds, a testament to the amazing Argyle ore body and the men and women who have worked so hard to bring these diamonds to market.”

Comprising 70 diamonds weighing 81.63 carats, the 2021 Argyle Pink Diamonds Tender has a record number of diamonds larger than one carat. The collection is headlined with Lot Number 1, Argyle Eclipse™, a 3.47 carat diamond that is the largest Fancy Intense Pink diamond ever offered at the Tender.

Patrick Coppens, General manager of Sales and Marketing for Rio Tinto’s diamonds business who has been involved throughout the history of the Argyle Pink Diamonds Tender said “The Argyle pink diamond story has continued to enthral throughout the years following the remarkable discovery of the Argyle mine in 1979. The final Tender collection of these beyond rare diamonds will be keenly sought after as heritage gemstones of the future, coveted by collectors and connoisseurs from around the world.”

Titled The Journey Beyond, the 2021 Argyle Pink Diamonds Tender takes its reference from the 1.5 billion year journey from creation to discovery and their remarkable impact on the world diamond and jewellery history. The Tender collection comprises five ‘hero’ diamonds selected for their unique beauty and named to ensure there is a permanent record of their contribution to the history of the world’s most important diamonds:

Lot 1: Argyle Eclipse™, 3.47 carat, radiant shaped Fancy Intense Pink diamond

Lot 2: Argyle Stella™ 1.79 carat, square radiant shaped Fancy Vivid Purplish Pink diamond

Lot 3: Argyle Lumiere™ 2.03 carat, square radiant shaped Fancy Deep Pink diamond

Lot 4: Argyle Solaris™ 2.05 carat, radiant shaped Fancy Intense Pink diamond

Lot 5: Argyle Bohème™ 1.01 carat, radiant shaped Fancy Red diamond

Also offered alongside the 2021 annual Argyle Pink Diamonds Tender are 41 lots of carefully curated Argyle blue diamonds, weighing 24.88 carats in total. Titled Once in a Blue Moon, these are the very last blue and violet diamonds to emege from the Argyle mine.

Jewellery historian Vivienne Becker said, “this final epoch making offering of pink, red and blue diamonds encapsulates the near-impossible rarity and compelling beauty of the natural treasures gifted to the world by the east Kimberley region of Western Australia. Over the near four decade life span of the Argyle mine, Rio Tinto has built a unique diamond brand of integrity and authenticity, an Australian icon and source of national pride, now recognised and asked for, by name, across the globe.”

The 2021 Argyle Pink Diamonds Tender will be showcased in Perth, Antwerp, Singapore and Sydney, subject to COVID-19 protocols. Bids close on September 1, 2021.

Source: riotinto.com

Argyle Diamond Mine Closure: The End of a Sparkling Era

Rio Tinto Argyle diamonds

Pink and red diamonds are among the most special gems in the world. The value of these highly sought-after natural stones speaks for itself, but their rarity has arguably increased since the closure of Rio Tinto’s Argyle mine.

The asset, which ceased mining activity on November 3, 2020, had been in operation since 1983. In that time, 865 million carats of rough diamonds were produced.

The unique geological chemistry of the Western Australia location birthed the rarest hues, including champagne, cognac, blue, violet and of course, the coveted Argyle pink and red diamonds. Millions of carats of white diamonds were produced at the prolific property as well.

After 37 years of output, Argyle’s closure came at a time of flux for the diamond market. The sector has been dealing with reduced demand caused by the COVID-19 pandemic, as well as shifting demographics.

While mining activity has concluded at the source of 90 percent of the world’s pink gems, diamond analyst Paul Zimnisky noted that Rio Tinto is likely still processing ore from Argyle.

“So Argyle diamonds will probably still be ‘produced’ this year,” he said. “Also, Rio may have some rough inventory overhang following all of the supply chain disruptions last year. But by the end of this calendar year or early next year, I think most of the primary market Argyle rough goods will be off the market.”

Demand for pink diamonds steadily growing

Colored diamonds, especially pink and red, are among the most valued gems on Earth. Prices can range from US$10,000 per carat for less intensely colored stones up to US$70,000 per carat for vivid hues.

Ahead of the Argyle closure, pink diamond prices were on the rise. According to the Fancy Color Research Foundation FCRF, the value of pink diamonds rose 116 percent between 2010 and 2020. That’s more than any other colored diamond segment, including the extremely rare blue diamonds.

Even 2020’s disruptions and closures didn’t dent the rosy outlook for colored stones.

“The prices of all pink diamonds overall remained without a change in Q4 2020, with fancy and fancy intense categories presenting a slight increase,” a FCRF report states. “Although 2020 was challenging in terms of logistics and travel, contrary to market expectations, fancy color diamond prices proved to be resilient, with minor price decreases across the board.”

With as much as 95 percent of global pink diamond supply now removed, there is some anticipation that prices for the gems will continue to increase, perhaps at a faster rate.

Source: investingnews

Pink Diamond Investment

pink diamond from the Legacy Collection

Introducing the Argyle Mine

Over 90% of the world’s annual natural pink diamond supply is mined from one single source: Rio Tinto’s Argyle mine in Western Australia. The mine has been in operation since the early 1980’s, and is scheduled to completely cease all mining operations by 2021 due to exhausted supply.

In anticipation of this closure date, investors buying pink diamonds are seeing an average appreciation of between 10-15% on their diamond portfolios each year.

A diamond mining site.

Pink coloured diamonds can act as an important part of a balanced investment portfolio, offering low correlation and insulation from traditional financial market risks.

Source: diamondportfolio

Rio Tinto Ends Mining at Argyle

Argyle Diamond Mine Closure

Rio Tinto will dig the last diamonds up from the ground at its Argyle deposit in Australia on Tuesday, marking the end of an era in the industry.

The company will continue to sift through ore at the adjacent processing plant until December, and will hold the final rough sale at the end of that month, a company spokesperson said.

Rio Tinto first began operations at Argyle in 1983, with the site since becoming the world’s largest diamond mine by volume, producing more than 825 million carats of rough over its lifetime. The deposit is most famous for its colored diamonds, with more than 90% of the world’s rare pink and red diamonds originating from the mine, according to Rio Tinto.

Those pink diamonds take longer to process than general run-of-mine goods, the company noted. Rio Tinto will continue to sell them into the coming year, and will hold its final Argyle Pink Diamonds Tender in 2021.

Once Rio Tinto completes the final production from Argyle, it will undertake a decommissioning, dismantling and rehabilitation process that will last approximately five years.

Source: Diamonds.net