IGO to record impairment against nickel assets in strategy shift
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Rio Tinto’s spectacular 2015 Pink Diamonds Tender collection of 65 rare pink and red diamonds from its Argyle diamond mine has delivered an exceptional result, reflecting global demand and sustained price growth.
The Argyle Pink Diamonds Tender, known as the ‘Connoisseurs Collection” weighing a total of 44.14 carats and including four Fancy Red diamonds, was internationally popular with winners from 11 countries.
Argyle Pink Diamonds manager Josephine Johnson said “We are delighted with this year’s results which are a reflection of the collectability of Argyle pink diamonds and global appreciation of their rarity, provenance and beauty.”
Known as ‘the most concentrated form of wealth of earth” the Argyle Pink Tender diamonds continued their double digit price growth trajectory in 2015, achieving the highest average price per carat since the Tender began in 1984. The five “heroes” of the collection were sold to notable investors, collectors and retailers based in Europe, USA, China, and the Middle East.
Whilst bids and total values remain confidential, the most valuable diamond was Lot Number 1, Argyle Prima™, a spectacular1.20 carat Fancy Red pear shaped diamond, tightly contested for its unique combination of size, shape, colour and clarity which is seldom seen in the rarefied world of red diamonds.
Argyle Prima™ was won by Sciens Coloured Diamond Fund 11 BV, for an undisclosed value. Mr Philip Baldwin, joint Managing Director of Sciens Diamond Management said ”The rarity of Argyle pink diamonds, shaped by the forces of supply and demand, speak volumes about their investment potential and wealth creation.”
Almost the entire world supply of rare pink and red diamonds come from Rio Tinto’s Argyle diamond mine in the remote east Kimberley region of Western Australia. Today, the Argyle pink diamond is one of the few gemstones identified by its unique origins with a colour range resulting from a rare combination of intense heat and pressure occurring below the earth’s surface some 1.6 billion years ago.
