Rio Tinto’s historic 2021 Argyle Pink Diamonds™ Tender delivers record breaking results

Rhea-AI Summary

Rio Tinto's 2021 Argyle Pink Diamonds™ Tender, featuring 70 rare pink and red diamonds, has achieved record-breaking results, marking a historic moment in its 38-year history. Despite the Argyle mine's closure in November 2020, the collection titled The Journey Beyond™ boasts double-digit price growth, with 19 bidders from nine countries participating. The diamonds were highly sought after, with notable sales including the Argyle Eclipse™ and Argyle Bohème™. Rio Tinto plans to manage the Argyle Pink Diamonds™ brand, emphasizing its legacy and maintaining its position as a leader in fancy colored diamonds.

Positive

• Record-breaking results for the 2021 Argyle Pink Diamonds™ Tender collection.
• Double-digit price growth achieved for the diamond collection.
• Participation from 19 bidders across nine countries, indicating strong global interest.

Negative

• None.

MELBOURNE, Australia--(BUSINESS WIRE)-- Rio Tinto’s 2021 Argyle Pink Diamonds™ Tender collection of 70 rare pink and red diamonds from its Argyle mine in Australia has delivered the most significant set of record breaking results in its 38-year history.

The 2021 collection, titled The Journey Beyond™, is a historical collection comprising the pinnacle of the Argyle production, mined in its final year of operations, before closing in November 2020.

The 2021 Argyle Pink Diamonds™ Tender delivered record breaking price performance across individual diamonds and for the overall collection. The diamonds were fiercely contested around the world in a series of virtual and face to face viewings.

Sinead Kaufman, Chief Executive of Rio Tinto Minerals said “We are delighted with these results that are a reflection of the beauty, rarity and unique provenance of Argyle pink diamonds. They are also a testament to all those involved in taking these gems from a mine in remote Western Australia to the world.”

The 2021 collection continued its trajectory of double digit price growth with 19 successful bidders from nine countries. Lot Number 1, Argyle Eclipse™, a 3.47 carat, radiant shaped Fancy Intense Pink diamond was won by famed Australian jeweller and Argyle Pink Diamonds Select Atelier™, Calleija. Calleija was also the successful bidder for Lot Number 5, Argyle Bohème ™ a 1.01 Carat, radiant shaped Fancy Red diamond. With COVID-19 restrictions in place in Australia Calleija bid exclusively based on a virtual viewing of the collection.

Jeweller John Calleija said “It is an extraordinary opportunity and a privilege to be part of this historic collection. We are humbled to be the custodians of these uniquely Australian jewels and are delighted to be part of their enduring legacy.”

The other three hero diamonds from the 2021 Argyle Pink Diamonds collection were won by long standing bidders, with Lot Number 2, Argyle Stella™ and Lot Number 4, Argyle Solaris™ going to Singapore and Lot Number 3, Argyle Lumiere™ to the US.

Almost the entire world’s supply of rare pink, red and violet diamonds come from Rio Tinto’s Argyle diamond mine which ceased production on 3 November, 2020. With 37 years of Argyle pink diamond production in global markets Rio Tinto made the decision to retain the Argyle Pink Diamonds™ brand and maintain its position as a pre-eminent fancy coloured diamond specialist.

Sinead Kaufman said “We are extremely proud of the Argyle Pink Diamonds business and its legacy will continue as we retain and manage the brand through a proprietary Argyle pink diamonds trading platform, certification processes and creative collaborations with our trusted partners.”

In addition to owning the Argyle Pink Diamonds™ brand Rio Tinto is the majority owner and operator of the Diavik diamond mine in the Northwest Territories of Canada and has signed an exploration joint venture agreement with Endiama, the national diamond mining company of Angola, to evaluate the Chiri kimberlite in the Lunda Sul Province of Angola.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211027005509/en/

Please direct all enquiries to media.enquiries@riotinto.com

Communications Manager, Rio Tinto Diamonds

Robyn Ellison

M + 61 417 968 359

E robyn.ellison@riotinto.com

Media Relations, UK

Illtud Harri

M +44 7920 503 600

David Outhwaite

M +44 7787 597 493

Media Relations, Australia

Jonathan Rose

M +61 447 028 913

Matt Chambers

M +61 433 525 739

Jesse Riseborough

M +61 436 653 412

Media Relations, Americas

Matthew Klar

T +1 514 608 4429

Rio Tinto plc

6 St James’s Square

London SW1Y 4AD

United Kingdom

T +44 20 7781 2000

Registered in England

No. 719885

Rio Tinto Limited

Level 7, 360 Collins Street

Melbourne 3000

Australia

T +61 3 9283 3333

Registered in Australia

ABN 96 004 458 404

riotinto.com

Category: Argyle

Source: Rio Tinto

FAQ

What were the results of Rio Tinto's 2021 Argyle Pink Diamonds Tender?

Rio Tinto's 2021 Argyle Pink Diamonds Tender saw record-breaking results, highlighting strong demand and price growth for the diamonds.

How many diamonds were included in the 2021 Argyle Pink Diamonds collection?

The 2021 Argyle Pink Diamonds collection included 70 rare pink and red diamonds.

Which companies were involved in the bidding for the Argyle Pink Diamonds?

19 bidders from nine countries participated in the bidding for the Argyle Pink Diamonds.

What is the significance of the Argyle Pink Diamonds Tender in 2021?

The 2021 Tender is significant as it showcases the final production from the Argyle mine, which closed in November 2020.

What is the future of the Argyle Pink Diamonds brand?

Rio Tinto plans to retain and manage the Argyle Pink Diamonds brand through a trading platform and collaborations.