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12/11/18

13:54

Post #: 36471559
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Originally posted by pentacost ↑

ARGYLE DIAMONDS TENDER DELIVERS “RECORD RESULT”

The 2.28 Argyle Muse was “the most valuable diamond in the Tender’s 34 year history”

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11.11.2018World
Credit: Rio Tinto
The recently concluded Rio Tinto’s 2018 Argyle Pink Diamonds Tender delivered “another record result reflecting strong global demand for fancy coloured diamonds”, according to Rio Tinto, which owns and operates the Argyle diamond mine in Australia.

The tender included a collection of 63 rare pink, red and violet diamonds from Argyle. According to the miner, the results – reflecting an undisclosed “double digit price growth” – are also a reflection of Argyle approaching the end of its mine life in 2020, “with the supply of these extremely rare diamonds becoming even scarcer”. Lot Number 1, the 2.28 carat Fancy Purplish Red diamond called the Argyle Muse™, was sold to an undisclosed buyer and is “the most valuable diamond in the Tender’s 34 year history”. Lot 2, the Argyle Alpha™, was won by Singapore based Glajz THGm and is “the largest and most valuable Vivid Pink diamond” in the history of the tender.

Rio Tinto added that over the past 18 years, “the value of Argyle pink diamonds sold at Tender have appreciated over 400%”.Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said: “The 2018 Argyle Pink Diamonds Tender was highly sought after with record results that underscore the value of these gems in the history of rare coloured diamonds”.

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So far as I know (though the relationships of MED are hard to fathom) MED does not benefit financially from anything Rio Tinto does.

Or are you just reinforcing the fact that diamonds are valuable objects?

MED Price at posting: 0.6¢ Sentiment: None Disclosure: Not Held
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