05 July 2010
New publication highlights the immense appeal of the world's most precious pink diamonds
Perth, July 5, 2010 - Rio Tinto today announced the launch of its new publication, Rare and Collectable, which focuses on the unique market position occupied by the rare pink diamonds from Rio Tinto's Argyle Diamond Mine.
Timed to coincide with the 26th Argyle Pink Diamonds Tender, Rare and Collectable places the rarity of Argyle pink diamonds in the context of global supply and demand and the resulting strong price appreciation. This publication is considered timely given the increasing propensity for affluent investors and collectors to diversify their portfolios through acquisitions of rare diamonds.
Discovered in 1979, the Argyle Diamond Mine produces virtually the entire supply of the world's pink diamonds. Rio Tinto very quickly realised that the rare quality of its pink diamonds would be valued and this resulted in careful marketing to reflect their uniqueness, exclusivity and glamour.
According to Tom Albanese, Chief Executive of Rio Tinto,
"Thirty years ago there were very few people who believed Australia could hold the secret of diamonds - even fewer could foresee the discovery of the rarest of all diamonds - the Argyle pink diamond. Patience, diligence and the efforts of resource experts and investors have been rewarded, as events of the past three decades have unfolded."
Rare and Collectable also provides an insight into the separate market position held by pink diamonds in comparison to its white counterparts, along with the compelling metrics that are driving the value of pink diamonds, even in times of economic uncertainty. According to Jean-Marc Lieberherr, General Manager for the Sales and Marketing of diamonds from all Rio Tinto's mines,
"In the rarified world of Argyle pink diamonds we are continuing to see strong demand in both the mature and emerging markets. On the supply side there are no known pink diamond mines or deposits and even if another was found, it takes at least 10 years for a mine to proceed from discovery to production."
These fundamentals are providing a catalyst for growth in investment demand and with only around a decade of remaining mine life at Argyle, these rare pink diamonds are becoming rarer.