Mining and Heavy Industries

Jacques high on pink diamonds

Rio Tinto has unveiled the largest Fancy Red diamond in the history of its Argyle Pink Diamonds Tender, and chief executive J-S Jacques is big on the venture.

Jacques showed off the Argyle Everglow at the first Australian viewing of Rio’s 2017 Argyle Pink Diamonds tender at a special preview in Perth.

“The market fundamentals for pink diamonds remain robust,” Jacques said.

“The combination of healthy demand and extremely limited supply continues to support significant value appreciation for pink diamonds.

“At more than a billion years old, each Argyle pink diamond is a fluke of nature, commanding the attention of investors, collectors and diamond connoisseurs across the world.”

Rio owns and operates its Argyle diamond mine in the East Kimberley region of WA. It has been operating since 1983.

The company’s annual Argyle Pink Diamonds Tender is its showcase of the rarest diamonds from the mine.

The 58 diamonds which make up the 2017 Tender weigh a total of 49.39 carats. The Tender includes four ‘Fancy Red’ diamonds, four ‘Purplish Red’ diamonds, two ‘Violet’ diamonds, and one ‘Blue’ diamond.

Argyle Everglow, the centrepiece of the 2017 Tender, is a 2.11 carat polished radiant cut diamond.

The Tender will be showcased in Perth, Hong Kong and New York, with bids closing on October 11, 2017.

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