Rio Tinto Unveils Roster of Pink Diamonds

RAPAPORT... Rio Tinto has launched what's likely to be one of its lastannual pink-diamond tenders, as the company gears up to close its flagshipArgyle mine.The Argyle Pink Diamonds Tender, which has run since 1984,comprises rare polished colored diamonds originating from the mine inAustralia. This year's edition, which Rio Tinto unveiled Friday at the mine site,features 64 stones weighing a combined 56.28 carats, including three fancy-reddiamonds, it said.The deposit is due to shut next year, having operatedsince 1983. It's the world's largest diamond mine by volume, producing 14.1million carats in 2018. Most of its output is lower-quality white diamonds, butit's more famous for its pink, red and purple goods. More than 90% of theworld's rare pink diamonds are from the mine, according to Rio Tinto."Rio Tinto's Argyle mine is the first and only ongoingsource of rare pink diamonds in history," Arnaud Soirat, Rio Tinto's CEO forcopper and diamonds, said in a statement Friday. "With the life cycle of thisextraordinary mine approaching its end, we have seen, and continue to see,unstoppable demand for these truly limited-edition diamonds, and strong valueappreciation."The closure is likely to have a "dramatic" effect on the availabilityof pink diamonds, Soirat noted in an interview with Bloomberg on Friday. "Youcan imagine the laws of supply and demand will apply, and you can imagine theimpact that will have on those very rare pink, red, blue and purple diamonds,"the news service quoted Soirat as saying.The top items at this year's sale include a modifiedradiant, 1.75-carat, fancy-red diamond, named the Enigma, and a heart-shaped,1.48-carat, fancy-vivid-purplish-pink diamond called Amari. The company hasnamed the 2019 collection "The Quest for the Absolute." It will showcase thediamonds in Hong Kong, New York and Perth, Australia, with bids closing onOctober 9.The top six lots - the "hero diamonds" - are asfollows:Lot 1: The Argyle Enigma, a modified radiant, 1.75-carat,fancy-red diamondLot 2: The Argyle Amari, a heart-shaped, 1.48-carat fancy-vivid-purplish-pinkdiamond Lot 3: The Argyle Elysian, a modified cushion-shaped, 1.20-carat,fancy-vivid-pink diamondLot 4: The Argyle Verity, an oval-shaped, 1.37-carat, fancy-vivid-purplish-pinkdiamondLot 5: The Argyle Opus, a round-shaped, 2.01-carat, fancy-intense-pinkdiamond Lot 6: The Argyle Avenoir, an oval-shaped, 1.07-carat, fancy-reddiamondImage:  The "hero diamonds" from the 2019 Argyle Pink Diamonds Tender. (Rio Tinto)