History of the argyle mine
Located in the remote northern region of Western Australia lies an incredibly special discover. The East Kimberley is home to the incredible pink diamond which is amongst the rarest of diamonds know to mankind. In 1979 an incredible discovery occurred in the floodplains of a small creek that flowed in Lake Argyle which indicated the presence of diamonds.
After the area was assessed for economic viability a decision was made in 1983 to begin a mining operations and thus in 1985 the Argyle mine was born.
Today the Argyle mine is the fourth largest diamond producing mine in the world, though only 1% of diamonds pulled from the mine are the uniquely rare Argyle Pink. Pink diamonds from the Argyle mine are an incredibly rare and sort after item, with only a few ever appearing in the Pink Diamond Tender. In 2016 the Argyle Tender became the highest selling tender in its 20 year history.
With no new mine discovered since and no stable supply to feed the demand, the supply-demand gap will only continue to widen over the next few years. And as a result, the prices of rare coloured pink diamonds will likely go nowhere but up!
Pink Diamonds from the Argyle diamond mine are so rare that only a handful of stones are polished every year. These rarest of the rare coloured diamonds are mined at Rio Tinto’s Argyle diamond mine in the east Kimberley Region of Western Australia. 95% of the world’s pink diamonds are mined here.
Aside from pink diamonds, Rio Tinto’s Argyle diamond mine also holds the monopoly of violet, red, and champagne coloured diamonds.
Why are Pink Diamonds So Valuable?
Argyle pinks are Amongest the rarest diamonds on earth
Pink diamonds are recognized as extremely luxurious items. The increase in rarity together with their popularity has significantly driven pink diamond prices up. Consequently, they are often utilized as additions to investment portfolios as excellent alternative investments.
The unique colours in the stones are caused by different trace minerals within the compound elements of the diamonds. Depending on the origin of the stones, meaning where it is from, certain minerals are more present – therefore increasing the presence of specific colours in certain areas.the cause of the Pink Diamond colour actually still remains questionable. Scientific evidence has shown that Pink Diamonds contain high pressure graining which results in a compressed internal structure and that is thought to be the origin of the colour.
Since 1985 approximately 90% of global production of natural pink diamonds have been extracted from the Argyle mine in Western Australia. However, only a select number of these pink diamonds are retained and polished by the Argyle mine. The rest are sent to auction and sold as ‘seconds’ because they don’t make the high standards required by the Argyle brand. This goes to show the extreme quality and value that these diamonds have.