Rio Tinto’s rough diamond tender achieves unprecedented response

Rio Tinto achieved to attract both a tremendous participation as also a record number of successful bidders for its first rough diamond tender for 2014. The tender offering 124 lots of rough diamonds from its Argyle (Australian), Diavik (Canadian) and Murowa (Zimbabwean) mines, delivered a strong results.

It was a tender offering a unique combination of white and fancy coloured rough diamonds. It 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. 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.”