With their lovely hues that range from powder puff to fuchsia, pink diamonds are among the rarest and most coveted of all gemstones. Most of these blushing sparklers come from the Argyle Mine, located in the Kimberly region of Western Australia. However, after 37 years of operation and after producing over 865 million carats of rough diamonds (in mostly brown tones) the mine, which was run by Rio Tinto, closed in November 2020, leaving the world without a steady supply of pink diamonds.
The Argyle Mine accounted for 90 to 95 percent of the global supply of pink diamonds.
Pink diamonds get their color from a distortion in the crystal structure of the gem as it is forming. The anomaly in the structure is possibly due to the intense heat and pressure of the stone being thrust to the earth’s surface through geological events. The shift in the crystal structure causes the diamond to reflect light differently resulting in the pink colors that we see.
About the Argyle Rose TM
Recently, Rio Tinto unveiled a stunning new creation featuring pink and blue diamonds from the Argyle Mine: The Argyle Rose TM Ring. It may also be worn as a pendant and features a 1.36-carat fancy deep pink radiant cut diamond. It has a surround of blue diamonds also from the Argyle Mine, totaling 1.89-carats along with 2.80-carats of white diamond “petals” hand-set in platinum and 18-karat gold.
The ring was designed by Perth, Australia-based jeweler Solid Gold Diamonds and is priced at A$2 million — a little over US$1.3 million. The Argyle Rose was created as part of the Argyle Pink Diamonds Icon Partner TM program, with a goal of preserving the provenance and integrity of Argyle Pink Diamonds now that the mine has completed production. The program honors the diamonds through world-class craftsmanship and evocative design, representing the ultimate in rarity and collectability.
From Chief Executive of Rio Tinto Minerals Sinead Kaufman:
I am delighted to launch the Argyle Rose. Encapsulating a rich history and an extraordinary provenance, it is both a contemporary treasure and an heirloom for tomorrow. These rare and precious diamonds are one and a half billion years old, from one of the most beautiful places on earth and the world is simply not producing them anymore.
How Rare Are Pink Diamonds?
During its 37 year run, the mine produced anywhere from 20 to 40 million carats of diamonds annually. The amount of pink diamonds recovered yearly has been described as only enough to fill a teacup, an ashtray or the palm of your hand.
The vast majority of the pinks that were recovered each year were well under a carat — only 50 to 60 were over a half carat. Those gems were set aside and sold in a closed tender to dealers around the world. The event was so exclusive that only about 150 people were invited to the viewings that were held in select cities globally. Now, with the Argyle Mine closed, we have to wait – and hope – for another discovery of these precious pink gems.
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The Argyle Mine Closes. Goodbye, Dear Friend.
