Rio Tinto's Rough Diamond Tender Experiences Strong Results

Rio Tinto’s first rough diamond tender of 2014  delivered a strong result amidst unprecedented participation and a record number of successful bidders.

Comprised of 124 lots of rough diamonds from its Argyle (Australian), Diavik (Canadian) and Murowa (Zimbabwean) mines, this unique combination of white and fancy colored rough diamonds was awarded to 44 successful companies.

“We were delighted with the bidding, the global nature of the successful bidders and the final result. It speaks to the strong demand for our diverse diamond portfolio,” said Patrick Coppens, the general manager for the sales of all Rio Tinto diamond production.

The most valuable diamond in total dollars was an exceptional 70-carat white diamond from the Diavik mine. There was also unprecedented bidding for the wide array of fancy colored rough diamonds from all three Rio Tinto mines – the yellow, champagne, cognac, pink and purple diamonds were sold to diamond specialists from around the world.

Israeli diamond manufacturer L & N Diamonds, a significant winner at the tender and a Rio Tinto Select Diamantaire confirmed that it was great to see the tender in both Antwerp and the highly competitive Israeli diamond industry. While it was delighted with the diamonds they purchased,  the ultimate beneficiary will be the consumer when these diamonds will be transformed into beautiful jewelry for the major consumer markets around the world.

Rio Tinto Diamonds has a number of other rough diamonds tenders, outside of its regular cycle of supply agreements, and the next one, known as an invitation sale, for a broad range of rough diamonds from the Diavik mine will be held in Antwerp in May. Interested parties can contact Rio Tinto diamonds through the following contact details: auctionsales@riotinto.com or call +32.3.303.6868.