Tuesday, October 23rd 10:28 AM IST

Rio Tinto's Argyle pink diamonds remain hot sellers

# Rio Tinto  # Argyle  # Pink Diamonds  

The Argyle Diamond Mine produces more then 90 per cent of the world's pink diamonds, the rarest diamonds in the world.

LONDON(BullionStreet): World famous Argyle pink diamonds remained the center of attraction at Rio Tinto's annual pink diamond sale.

The miner said successful bidders for the Argyle Pink Diamonds Tender were from both established and emerging markets, with buyers snapping up 56 single pink diamonds, two red diamonds and 19 blue diamonds.

Bidders pay record prices in this year's tender process, with one gem tipped to fetch more than $2 million when it hits the retail market.

This year there were 56 single pink diamonds, including two red diamonds and an additional 19 lots of blue diamonds from Rio's Argyle diamond mine in Western Australia.

The tender process is private and conducted through closed bids, meaning the prices paid are not disclosed by Rio.

The Argyle Diamond Mine produces more then 90 per cent of the world's pink diamonds, the rarest diamonds in the world.

The Argyle pink diamonds are the only diamond product that is not sold by Rio Tinto in its rough format. Instead the pink diamonds are retained to be cut and polished and sold to an international customer base of Authorised Partners and Select Ateliers

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