Rio Tinto selling ‘vivid’ pink and red di­a­monds

The China Post - - WORLD BUSINESS -

Sixty-five ex­tremely rare pink and red di­a­monds were un­veiled Fri­day by min­ing gi­ant Rio Tinto which ex­pects the stones from a re­mote western Aus­tralia mine to fetch record prices.

The di­a­monds come from the An­glo- Aus­tralian firm’s Ar­gyle mine — where more than 90 per­cent of the world’s pink and red jewels are pro­duced each year.

“This year, we prob­a­bly have the most valu­able ten­der ever,” Rio Tinto di­a­monds and min­er­als chief ex­ec­u­tive Alan Davies told AFP of the an­nual sale.

“So we’ve got a num­ber of fancy reds and the color and the clar­ity this year is truly unique.

“They are so rare that all of the pinks you can have in the palm of your hand and all the reds you can count on one hand, so they truly are in the cat­e­gory of lux­ury col­lec­tion.”

The 2015 col­lec­tion fea­tures five “hero” gems, in­clud­ing a 1.93 carat fancy vivid pur­plish pink shield- shaped diamond and a 1.47 carat fancy red oval­shaped jewel.

Rio said this year’s se­lec­tion, which weighs a to­tal of 44.14 carats, had some of the “most vivid” pink and red di­a­monds ever un­earthed from the mine.

The jewels are around 1.6 bil­lion years old and rou­tinely fetch US$1-2 mil­lion a carat. As a ba­sic rule of thumb, pink and red di­a­monds are worth about 50 times more than white di­a­monds.

Davies said there was world­wide in­ter­est in the di­a­monds — which will go from Syd­ney to Hong Kong, New York and Perth be­fore the bid­ding process closes on Oct. 21 — as they are viewed, like art­work, as col­lectibles.

“There’s tremen­dous in­ter­est in Asia, but this is a global mar­ket, so it is Asia, the Mid­dle East, United States, ev­ery­where,” he added.

“We’ve seen growth in value of more than 10 per­cent a year for more than 12 years, and we ex­pect that to con­tinue.”

It is not known how the di­a­monds ac­quired their pink or red tinge but it is thought to come from a molec­u­lar struc­ture dis­tor­tion as the jewel forms in the earth’s crust or makes its way to the sur­face.

AFP

Bal­le­rina Dim­ity Azoury from the Aus­tralian Bal­let holds up the “Ar­gyle Prima,” a 1.20 carat Fancy Red diamond, dur­ing the launch of Rio Tinto’s Ar­gyle Pink Di­a­monds Ten­der in Syd­ney on Fri­day, June 26.

Newspapers in English

Newspapers from Taiwan

© PressReader. All rights reserved.