Rio Tinto’s Rough Diamond Tender Delivers Strong Results

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

Comprising 124 lots of rough diamonds from its Argyle (Australian), Diavik (Canadian) and Murowa (Zimbabwean) mines, this unique combination of white and fancy coloured 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, General Manager for the sales of all Rio Tinto diamond productions.

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 coloured 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 said “It was great to see the tender in both Antwerp and the highly competitive Israeli diamond industry. Whilst we were delighted with our diamonds the ultimate beneficiary will be the consumer when these diamonds will be transformed into beautiful jewellery 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.

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