Argyle Diamond mine is situated in the western part of Australia, in the region of East Kimberley. The mine was opened at the beginning of 1980s. Lately, on November 3, 2020, it finished the delivery of the last tons of diamonds and will no longer be up for service, unfortunately.
Argyle Diamond Mine Was Running Under the Mining Company Named Rio Tinto
Rio Tinto is a group established by the English and the Australians. The mining company warned in 2018, that due to the scarcity of diamonds, it will soon no longer be profitable to invest in mining Argyle’s ores.
Argyle diamond mine is known to the world for its breathtaking pink diamonds. These gorgeous gems are very rare to encounter, what is more, 90 per cent of that pink luxury was being brought to surface from this Australia based mine. Not only the feminine hue, but also the brown colored diamonds were nunerous in Argyle.
Even though brown diamonds are not valued as high in today’s market as the pink ones in Argyle diamond mine, they are still items that many jewelry makers want to attach to their creations. An example is the Chinese market, which had special bonds to brown diamonds back in 1990s. At that time the retail price was inexpensive. You could find a brown diamond jewelry with just $200.
Knowing that Argyle diamond mine is closed many of the companies have worries about the future of diamond producing. There is a hope that the demand will be filled up by the help of laboratory grown gems. On the other hand the price of lab-grown diamonds will multiply. The customers will not feel huge differences in the pricing of pink diamonds as if they are still reserves of pink diamonds in Argyle stocks. It could happen maybe after a couple of years.
Source: Rio Tinto
Argyle diamond mine, however is not the only leading group that holds exclusively rare gems. An alternative in the market is the Russian Alrosa , located in one of the coldest edges of Yakutia. Sometimes it really is is very valuable diamonds such as 14.83 carat diamond I found in 2017.
It earned the nickname of “Spirit of the Rose”. The purple pink diamond appeared in Sotheby’s Magnificent Jewels auction house in Geneva on November 11th. It was sold out for 26.6 million dollars. When you consider that a pink diamond of one carat is sold at approximately quarter million dollars it becomes visible how valuable those gems are. Statistics show that over the last year there has been a 15 percent rise in the cost of diamonds.
Lab grown diamonds are very similar to natural ones, and there have been cases where the base of those diamonds was a synthetic element, pressurized in a heated chamber. This kind of gems can be found in 3 digit prices for customers who cannot afford for more.
Source: Rio Tinto
The growth of interest within the last 5 years in lab-grown gems resulted in opening such mining companies as South African “De Beers”. It has a department in Britain, the Lightbox, which opened a new store in the past month. There you can find laboratory-grown diamonds of different colors retailing at $800. These diamonds are not higher than 1-carat.
Seems like the Argyle diamond mine does not completely close the chapter of natural gems, as there are more eco-friendly choices emerging. Natural diamond resources are also on the other continents ( take the examples of Canada, Angola and Congo). Moreover, this is just one sector of the land luxury. The oceans also hide precious stones that are yet unleashed.