Argyle Mine Closure – Is this the end of Pink Diamonds?”

Thursday, 10 December 2020
Written by
Argyle Diamonds

It’s nearly all over, the penultimate diamond auction of Pink Diamonds is close to finishing. Only one more to go once this one is finalised!  Rio Tinto has finally concluded diamond production at the revered Argyle diamond mine located in the Kimberley. Since the Argyle diamond mine was discovered in 1979 it has been the pre-eminent source of pink and coloured diamonds in the world. In fact, the mine produced over 90% of the total supply of pink diamonds so the closure of the mine will severely impact the production of coloured diamonds especially pink diamonds.

The Argyle diamond mine was operational for 37 years and during that time it produced more than 865 million carats of rough diamonds. Much of this production (95%) were diamonds of less than gem quality used for industrial purposes. Only 1 in 10,000 was a pink diamond, which further emphasises the scarcity of these beautiful gems.

The mine site will be rehabilitated over the next five years or more, restoring it to the original condition before it is returned to its traditional owners.

How does the tender process work? Rio Tinto showcases the diamonds that are for sale in a worldwide tender to merchants and collectors from across Asia in Singapore. The latest offering is for 62 pink, blue, violet and red diamonds with the largest stone being a stunning fancy vivid purplish pink gem at a weight of 2.24 carets known as Argyle Eternity. The weight of the 62 diamonds is 57.3 carats highlighted by 6 outstanding stones. These are Argyle Eternity as described above, Argyle Ethereal a 2.45 carat fancy intense purple-pink; Argyle Sakura a 1.84 carat pear shaped vivid purplish pink’ Argyle Emrys a 0.43 fancy deep greyish violet-ish blue; Argyle Skylar a 0.33 carat heart shaped fancy dark grey-violet) and Argyle Infiniti a 0.70 carat oval shaped fancy dark violet-grey).

The balance of the collection consists of smaller but no less beautiful stones. These 62 stones are the finest examples of coloured diamonds and thus will command the most interest.

The collection is being shown in Singapore, Perth and Antwerp Belgium with diamond professionals offered the opportunity to bid on any one of gems with the tender closed on 2nd December 2020. It is expected that there will be very strong demand and it is expected prices with exceed the records set in 2019.

Not everyone is able to afford such perfect examples of coloured diamonds. At Anastasia’s we have an extensive range of pink and coloured diamonds for investment as well as jewellery. If you need expert advice on any aspect of diamonds please contact us on email showroom@anastasiasbroome.com.au or call us +61 8 9468 8116 .

Need more information – read our articles on “Argyle Coloured Diamonds Review”, Loose Argyle Pink Diamonds For Sale Broome”, “Argyle Pink Diamonds Broome” and “Pink Diamonds Broome”.

Author Bio

Jill Hansen runs Anastasia’s Of Broome and is a highly recognised expert is the field of South Sea Pearls having trained in seeding pearls in Cook Islands by Japanese Pearl Technicians. She established a wholesale pearl business selling pearls all over the world. Jill pioneered the combination of pearls and diamonds to create Lust™ Pearls, a unique fusion of these beautiful gemstones. She is an accredited diamond expert and is happy to use and impart her knowledge to help customers make informed decisions.

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