Rio Tinto’s Argyle Pink Diamonds Tender Delivers Exceptional Result

20 November 2019

PERTH, Australia--(BUSINESS WIRE)-- Rio Tinto’s 2019 Argyle Pink Diamonds Tender collection of 64 rare pink and red diamonds from its iconic Argyle mine has delivered strong results reflecting intense global demand for the rare diamonds.

The 2019 collection, the 35th Tender since the mine began production, saw double digit growth in the number of bids, with successful bidders coming from nine countries.

Whilst bids and total values remain confidential, Lot number 1, Argyle Enigma™, the most valuable diamond in the collection, was won by Australian based Argyle Pink Diamonds partner Blue Star & Kiven Diamonds. Blue Star & Kiven Diamonds also won Lot number 4, Argyle Verity™.

Ron Kiven, Director of Blue Star & Kiven Diamonds part of the Aurostar Group said “No other diamonds on earth match the rarity and provenance of Argyle pink diamonds. To have acquired two of the last Argyle pink diamonds to ever be unearthed, and one of the few Fancy Red Argyle diamonds in existence is the ultimate privilege”.

Almost the entire world supply of rare pink, red and violet diamonds come from Rio Tinto’s Argyle diamond mine which will close at the end of 2020. Over the past 19 years the value of Argyle pink diamonds sold at Tender has appreciated more than 500 per cent, outperforming all major equity markets.

Rio Tinto Copper & Diamonds vice president of sales and marketing, Alan Chirgwin said “The 2019 Argyle Pink Diamonds Tender was highly sought after with a set of results that underscores the ongoing value appreciation of these gems in the history of rare coloured diamonds.”

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 and comprising 64 lots of carefully curated diamonds, weighing in total 211 carats, it was sold in its entirety to Hong Kong fancy coloured diamond specialist, Kunming Diamonds.

Speaking on behalf of the Kunming Diamonds and his father Ajay Maheshwari (Jakhotia), Harsh Maheshwari, Director of Kunming Diamonds said “ This is a dream come true, a rare opportunity to acquire a once in a lifetime collection of pink and red Argyle diamonds. With the imminent closure of the Argyle mine, a collection such as this deserves to be showcased to the world and we look forward to announcing our plans at a later date.”

Rio Tinto Copper & Diamonds vice president of sales and marketing, Alan Chirgwin said “We are delighted with Kunming’s global bid for The Argyle Pink Everlastings Collection, a spectacular collection and an important legacy of the Argyle mine.”

High resolution images of the 2019 Argyle Pink Diamonds Tender hero diamonds and The Argyle Everlastings Collection are available on Flickr.

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Communications Manager, Rio Tinto Diamonds
Robyn Ellison
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E robyn.ellison@riotinto.com

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Category: Argyle

Source: Rio Tinto