May 2013 Diamonds News

RioTinto Reopens Argyle Underground Mine

After investing 2.2 billion to ensure its productivity through 2020, Rio Tinto has announced the reopening of its underground mine in Western Australia. This mine is noted for its production of pink diamonds – 90% of the world’s supply comes from this mine alone.

The Rio Tinto Board decided to move their operation underground after extensive feasibility studies into the safest and most economical way to reach deep into Argyle’s ore body. Argyle is leading the way for the Australian mining industry as this will be the first block cave mine in Western Australia and one of only a handful in the entire country.

At full production, the Argyle underground mine will generate around 9 million tonnes of ore per annum, and on average approximately 20 million carats per year over the life of the block cave.

Source: diamond-ladyinred.com via Diamonds Geek on Pinterest

Diamond Goes “Down the Hatch” at Charity Event

A Florida Women’s Club charity event held in April went awry when one of its members swallowed the grand prize – a $5,000 diamond. The real diamond, along with 399 fakes, was placed in the bottom of 400 champagne glasses during the event and the glasses were raffled off for $20.00. The diamond was supposed to be examined after the women chose their glasses, but one woman took a drink and accidentally swallowed her diamond – which turned out to be the real thing.

The gemstone was discovered the next day by her physician during a routine colonoscopy and the woman was able to take the retrieved stone to Continental Diamonds, the company that provided the prize, for verification. Everyone was excited that the diamond was retrieved and now the family has a great story to go to pass down to the next generation, along with the gemstone.

 

Suspects Charged in $50 Million Diamond Heist in Brussels

Seven men were arrested in Brussels in connection with the robbery of $50 Million worth of Diamonds from the tarmac of the Brussels International Airport on May 8, 2013. However, the international gang’s original target was cash, not gemstones, according to a report in The Telegraph on May 10.

A week before the robbery, a large consignment of cash was flown out of Brussels airport on a Helvetica Airways LX789 flight to Zurich, a shipment that the gang targeted for robbery. But instead of the banknotes, the bandits made off with the diamonds, diamonds which investigators believe that the thieves did not know what to do with.

“If the perpetrators had stolen money, then chances are that we would still be looking for them today. But they had to deal with a treasure which they didn’t immediately know what to do with. Their search for buyers for such a large parcel of diamonds caused quite a stir on the scene.

 

RioTinto Unveils Latest Red Diamond Discovery at the Annual Argyle Tender

Rio Tinto’s 2.2 billion dollar investment in its underground Argyle mine is paying off in a big way with the discovery of 3 exceptionally rare red diamonds to be exhibited at this years’ Rio Tinto Argyle Pink Diamond Tender.

The tender incorporates the “best” stones from a year’s production at the company’s Argyle Diamond Mine in Western Australia. During the mine’s 30-year history, there have only been six other diamonds certified as fancy red presented for sale. This is the first time three have been offered at the one time.

This years’ tender will feature 58 pink diamonds, 3 fancy red and 3 blue but, the star of the collection is a 1.56-carat round gem that has been named Argyle Phoenix in honor of the newly-commissioned Argyle underground mine.

“To have three of these rare red diamonds in one tender is a very special moment in time,” Argyle Pink Diamonds manager Josephine Johnson said, in an article for Jeweler magazine online.

Source: perthnow.com.au via Diamonds Geek on Pinterest

Auction results from May 2013

May 14 – Sotheby’s –Magnificent Jewels and Noble Jewels

A cut-cornered rectangular fancy light purplish pink diamond weighing 12.85carats set in a ring sold for $1.5 million.

 

A cushion-shaped, 74.53-carat, fancy yellow, SI1 clarity diamond sold for $2.9 million

Source: gazettenet.com via Diamonds Geek on Pinterest

May 15 – Christie’s – Magnificent Jewels

One of the most important diamonds ever sold on auction was sold in this auction. Even though not a fancy colored, still it is important to be mentioned. It was purchased by Harry Winston (which recently bought buy the Swatch group). The diamond is 101.73 carats, pear shaped, D in color and Flawless in Clarity. It was bought for an amazing price of $26,746,541.

Source: dailymail.co.uk via Diamonds Geek on Pinterest

A fancy light pink pear-shaped diamond, weighing 11.67 carats set in a lovely ring sold for $1,615,875.

Source: christies.com via Diamonds Geek on Pinterest

Very rare fancy red rectangular-cut diamond, weighing 1.92 set in a ring sold for $3,252,675.