Rio Tinto Sees ‘Exceptional’ Colored-Diamond Tender Results

Rio Tinto sold 87 polished colored diamonds from its Argyle and Diavik mines through its first Beyond Rare tender, noting strong bidding from global participants.

The collection, called Born of this World, comprised 48 lots weighing a total of 29.96 carats, Rio Tinto said Monday. It included pink and red diamonds from the company’s Argyle mine in Australia, which closed in November 2020, as well as yellow diamonds from the Diavik deposit in Canada.

Within the sale, the miner offered The Art Series, which included seven sets of diamonds, named “Masterpieces,” 11 perfectly matched pairs, and 30 single diamonds. The tender had successful bidders from Australia, Europe, Japan, Hong Kong, Singapore, the US and Israel.

Australia-based jeweler Kimberley Fine Diamonds took home the only fancy-red diamond in the collection, while Japanese retailer Gimel snagged some of the diamonds in The Art Series. Hong Kong’s Kunming also bid successfully, Rio Tinto noted.

“We are delighted with the results from this new sale format for Rio Tinto’s diamond business, delivering results that reflect the global demand for highly collectible natural-colored diamonds and the resulting value creation,” said Sinead Kaufman, CEO of Rio Tinto’s minerals division.

Image: The Masterpiece 2 set containing fancy-vivid-purplish-pink and purple-pink pear-shaped diamonds. (Rio Tinto)