Rio Tinto’s Blue Diamond Tender "Exceeds Expectations"

Rio Tinto’s recent tender of rare blue and violet diamonds realized record prices according to the company. Although the miner did not release specific figures regarding prices, or even if all the stones were sold, it did say that they "far exceeded the company’s expectations."

The diamonds, which were sourced from several years of production at the Argyle diamond mine in Western Australia, were divided into 16 lots weighing 287 carats in total.

According to Jean-Marc Lieberherr, Rio Tinto’s general manager of diamond sales and marketing, numerous lots sold in excess of the reserve prices, which he said was "a great sign in the lead up to our annual pink diamond tender."

Josephine Archer, sales and marketing manager for Argyle Pink Diamonds, said, "We have been overwhelmed by the enthusiasm from new and existing colored diamond collectors around the globe."

The diamonds, which were collectively known as the "Once in a Blue Moon" collection, were showcased in Tokyo, Hong King and Perth. The collection included single cuts, a number of matching pairs and a selection of smaller diamonds. In terms of quality, Rio Tinto defined the diamonds as “premium” and commercial diamonds.

The Argyle diamond mine is renowned for its colored diamonds. Although most are brownish in color, the mine also produces rare pink, red, violet and gray stones. Rio Tinto usually polishes these diamonds in-house and tenders them to traders and collectors.