Re -Train Your Brain To Happiness: Argyle Diamonds: Pretty In Pink

July 01, 2015

Argyle Diamonds: Pretty In Pink

Rio Tinto rates the gems in this year’s annual diamond tender as some of the most beautiful ever dug out of the Argyle mine.

This year’s offering, the “Connoisseur’s Collection”, includes 65 diamonds weighing a total of 44.14 carats and is said to include some of the most vivid pink and red diamonds ever unearthed from Rio’s Argyle mine in Western Australia.

“This collection is one of the most beautiful in the history of the Argyle pink diamonds tender,” Rio Tinto diamonds and minerals chief executive Alan Davies said at the launch at the Sydney Opera House.

“The Argyle diamond mine has changed the course of the history of pink diamonds and this year’s tender is testament to this extraordinary mine that continues to produce the world’s most sought-after gems.”

Every Argyle pink diamond in the collection is around 1.6 billion years old. The collection, which includes four fancy red diamonds, has five “hero” diamonds that Rio says have been selected for their unique beauty and named to ensure there is a permanent record of their contribution to the history of the world’s most important diamonds.

The names of the 2015 “heroes” have been inspired by ballet in recognition of Argyle’s partnership with the Australian Ballet. They include Argyle Prima, a 1.20 carat fancy red pear shaped diamond and Argyle Aurora, a 1.47 carat fancy red oval shaped diamond, named in honour of Princess Aurora from the Sleeping Beauty. There is also Argyle Spectre, below,a 1.93 carat fancy vivid purplish pink shield-shaped diamond. The name is inspired by the ballet Le Spectre de la rose.

The 2015 Argyle pink diamonds tender will have viewings in Sydney, Hong Kong, New York and Perth and bids will close on 21 October 2015.

By Sarah -Jane Tasker

With many thanks to The Australian

But not good news for yellow diamonds.

Precious yellow diamond mine closes in WA

One of the world's largest producers of precious yellow diamonds, Kimberley Diamond Company, has shuttered its mine after receiving weak prices at auction in Belgium.

At least 93 jobs are at risk after the parent company Kimberley Diamonds suspended operations at its subsidiary's Ellendale Diamond Mine in north Western Australia.
The company's subsidiary Kimberley Diamond Company was placed into administration after suffering a hit to its revenues from lower diamond grades, smaller diamond sizes and lower prices.

"Prices achieved at the auction held last week in Antwerp were significantly lower than those forecasted, resulting from a sharp, unexpected decline in the rough diamond market," Kimberley Diamonds said in a statement.

"As a result, Kimberley Diamond Company is unable to continue trading solvently and the board has been left with no option but to place Kimberley Diamond Company into external administration."

Kimberley Diamond Company has 93 permanent employees at its Ellendale mine, but the company declined to say how many jobs would be lost.
It says the Ellendale project is the world's leading source of rare fancy yellow diamonds and makes up around 50 per cent of the world's supply.

Sule Arnautovic, Trajan John Kukulovski and Chris Williamson of Jirsch Sutherland were appointed as administrators of Kimberley Diamond Company on Wednesday afternoon.
Kimberley Diamonds said the voluntary administration does not apply to the parent company, only the subsidiary that holds the Ellendale mining licence.

The subsidiaries which hold the interests in the Lerala Diamond Mine in Botswana or the Lomero-Poyatos project in Spain are also unaffected.
Diamonds were first discovered at the Ellendale Diamond Field in the west Kimberley 38 years ago.

Shares in Kimberley Diamonds have been suspended and last traded at 12 cents.

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