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Though No Numbers Revealed, RioTinto Says Results for the 2019 Argyle Pink Diamonds Tender was “Exceptional”

publish:2019-12-20

Rio Tinto said today that the 2019 Argyle Pink Diamonds Tender, which had a collection of 64 rare pink and red diamonds up for sale, has delivered strong results reflecting intense global demand for the rare diamonds. The Company noted that this 35th Tender, since the onset of production at the Argyle mine, saw double digit growth in the number of bids and that successful bidders came from nine countries.Whilst bids and total values remain confidential, Lot 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 4, Argyle Verity™, Rio Tinto said in its announcement statement.

Ron Kiven, Director of Blue Star Kiven Diamonds, which is 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.The Argyle diamond mine, which is slated to close at the end of 2020, has been the source of almost the entire world supply of rare pink, red and violet diamonds.

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 noted. Rio Tinto Copper Diamonds Vice President of Sales and Marketing, Alan Chirgwin commented: 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.

For the first time, the 2019 Argyle Pink Diamonds Tender collection was accompanied 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,Rio Tin to announced. Speaking on behalf of 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. Chirgwin added:We are delighted with Kunming global bid for The Argyle Pink Everlastings™ Collection, a spectacular collection and an important legacy of the Argyle mine.

Source: GJEPC

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