Rio Tinto eyes record prices for diamonds

Advanced Search

The story appears on

Page A7

June 27, 2015

GET this page in PDF

Free for subscribers

View shopping cart

Rio Tinto eyes record prices for diamonds

Source: AFP | June 27, 2015, Saturday |

Print Edition

SIXTY-FIVE extremely rare pink and red diamonds were unveiled yesterday by mining giant Rio Tinto which expects the stones from a remote western Australia mine to fetch record prices.

The diamonds come from the Anglo-Australian firm’s Argyle mine — where over 90 percent of the world’s pink and red jewels are produced each year.

“This year, we probably have the most valuable tender ever,” Rio Tinto diamonds and minerals CEO Alan Davies said of the annual sale.

“So we’ve got a number of fancy reds and the color and the clarity this year is truly unique.

“They are so rare that all of the pinks you can have in the palm of your hand and all the reds you can count on one hand, so they truly are in the category of luxury collection.”

The 2015 collection features five “hero” gems, including a 1.93-carat fancy vivid purplish pink shield-shaped diamond and a 1.47-carat fancy red oval-shaped jewel.

Rio said this year’s selection, which weighs 44.14 carats, had some of the “most vivid” pink and red diamonds ever unearthed from the mine.

The jewels are 1.6 billion years old and routinely fetch US$1 million to US$2 million a carat. As a basic rule of thumb, pink and red diamonds are worth about 50 times more than white diamonds.

Davies said there was worldwide interest in the diamonds — which will go from Sydney to Hong Kong, New York and Perth before the bidding process closes on October 21.

Business Consumer

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Rio Tinto eyes record prices for diamonds

Email this to your friend