Iron ore weakness to continue into 2025 and beyond, says Fitch Solutions’ BMI
Looking beyond 2024-2025, BMI analysts maintained their view that iron ore prices will likely follow a multi-year downtrend.
Rio Tinto (ASX, LON: RIO) announced that, due to the covid-19 pandemic, its annual Argyle Pink Diamonds Tender has been previewed virtually and has taken inspiration from the Japanese philosophy of Ichigo Ichie, which celebrates the unrepeatable nature of a moment in time.
With the source of these gems – the Argyle mine in Western Australia – reaching the end of its life, Rio wanted to pay homage to the fact that the Argyle pink diamond jewellery phenomenon started in Japan in the late 1980s, when Japanese designers incorporated the gems in innovative designs.
The 2020 Argyle Pink Diamonds Tender is a collection of 62 diamonds including six ‘hero’ diamonds
“In Japan today the Argyle pink hues are synonymous with romance and love and there is an unerring appetite for the smallest, palest pink diamonds, through to the rarest red diamonds,” Patrick Coppens, general manager of sales and marketing for Rio Tinto’s diamonds business, said in a media statement.
The 2020 Argyle Pink Diamonds Tender is a collection of 62 diamonds including six ‘hero’ diamonds, such as the 2.24-carat Argyle Eternity, the 2.45-carat Argyle Ethereal and the 1.84-carat Argyle Sakura.
According to Coppens, the ‘hero’ diamonds were selected for their unique beauty and were also named to ensure there is a permanent record of their contribution to the history of the world’s most important diamonds.
“Lot Number 3 in this year’s collection has been named Argyle Sakura in honour of Japan’s love of the cherry blossom hues of Argyle pink diamonds,” the executive said. “Argyle Sakura is the largest fancy vivid pear-shaped diamond offered in 37 years of the Argyle Pink Diamonds Tenders.”
Also included in the 2020 tender offering are The Petite Suites, 12 lots of miniature rare Argyle pink, red, blue and violet diamonds, weighing 13.90 carats in total.
Rio Tinto expects to carry out viewings later in the year at the Argyle mine, as well as in Perth, Singapore and Antwerp.
