Why was the argyle diamond mine in india closed?

Jules Kuhic asked a question: Why was the argyle diamond mine in india closed?
Asked By: Jules Kuhic
Date created: Wed, Feb 17, 2021 12:24 PM


Top best answers to the question «Why was the argyle diamond mine in india closed»

  • Buyers have been hit by a shortage of finance and stagnant end markets, while a weaker rupee has made gems more expensive for Indian manufacturers, who cut or polish about 90% of the world’s stones. The closure of Argyle will remove about 75% of Rio’s diamonds output, yet the impact on the producer’s earnings will be negligible.


Those who are looking for an answer to the question «Why was the argyle diamond mine in india closed?» often ask the following questions:

👉 How much increase in argyle diamond prices?

In the discussions that we have been having with our counterparts and contacts within the industry, it looks like the prices that have been paid for these diamonds are anywhere between 20%-50% higher than prices for Tender stones last year.

👉 Last pink diamonds from argyle mine, what can investors do?

The Last of the Pink Diamonds from the Argyle Mine At Australian Diamond Portfolio, we are busy working on a special report on the outlook for rare coloured diamond investments once the Argyle Mine closes, which we will provide to our regular readers of “In the Loupe” in the next few weeks.

👉 How much does a pink diamond cost from argyle?

Your answer depends on the quality of the diamond you buy: its colour, carat weight, clarity and cut.

10 other answers

Despite occupying such an influential position within the diamond industry and the investment market, all mines eventually “burn out,” and unfortunately the Argyle mine is no exception. Its resources were expected to be largely depleted in 2020, and on November 2, 2020 the Argyle Mine finally ceased operations. But what happens now?

Rio Tinto's Argyle diamond mine stops production after 37 years - ABC News. Rio Tinto's Argyle diamond mine produces 90 per cent of the world's rarest pink gems. Today this chapter comes to an end ...

It turned out to be the right way to go, and one of the reasons why was it had that very deep relationship with the Indian cutting industry and polishing industry, and there was the scale in India to handle its production. At one point, De Beers tried to gain control of Argyle.

A diamond might be forever, as the famous advertising slogan from De Beers claims, but a diamond mine certainly isn’t, as the closure this week of the once-giant Argyle mine in Australia proves.

The world’s biggest diamond mine⁠—famed more for the fistful of coveted pink and red gems it yields each year than being a major producer of lower-quality stones—is being shuttered by Rio ...

The Argyle Diamond Mine is a diamond mine located in the East Kimberley region in the remote north of Western Australia. Argyle was at times the largest diamond producer in the world by volume, although the proportion of gem-quality diamonds was low. It is the only known significant source of pink and red diamonds, and additionally provided a large proportion of other naturally coloured diamonds, including champagne, cognac and rare blue diamonds. Mining operations ceased in ...

The closure of the Argyle mine has put the production of pink diamonds at a standstill, Cisecki points out, as it takes a mine a minimum of 10-15 years to reach an optimal stage of producing ...

Today marks another momentous day in the history of pink diamonds: the Argyle Diamond Mine, which closed in November 2020 after nearly 40 years of producing nearly all of the world’s best quality pink stones, has revealed its final collection of 70 pink diamonds, along with some exceptionally rare colored diamonds in

A pink diamond ring with Argyle pink diamonds. That said, it is important to remember that whilst the raw material comes from the Argyle mine, Australia has no diamond cutting facilities Rio Tinto only has limited cutting facilities in Perth. Therefore, most of Argyle’s production (at least non-pink and red) goes to India to be cut and polished. To read more about the Argyle diamond mine, Argyle has a copy of a 2001 article in Gems & Gemology.

Secondly, the mine that produces the world’s largest supply of high-quality pink diamonds is set to close at the end of the year, due to depletion.

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