Is the Argyle diamond mine still open?

Since it started production in 1983, Argyle produced more than 865 metric carats (Mct) of rough diamonds and had ample reserves to mine commercially until its closure. Mining at the Argyle diamond mine ceased in November 2020. The decommissioning and demolition will take three to five years.

Why did the Argyle mine close?

But a combination of rising costs as the mine deepened, flat diamond prices and a low average price per carat sealed Argyle’s fate leading to a decision by its owner, the Anglo-Australian mining giant, Rio Tinto, to close the gates.

Are Argyle diamonds valuable?

The Argyle mine supplies over 90% of the world’s pink diamonds. Most diamonds have at least one secondary color, so pure Argyle Diamonds are considered extremely rare and valuable. The higher the intensity or strength of the color, the more expensive the stone.

Can you buy diamonds at Lake Argyle?

The most rare and valuable of the mine’s coloured diamond production are offered each year in the Argyle Pink Diamond Tender, considered to be the most exclusive diamond sale in the world.

Who owns the Argyle diamond mine?

Rio Tinto
The Argyle diamond mine, 100% owned by Rio Tinto, is one of the world’s largest suppliers of diamonds, producing approximately 20 million carats each year from its operations in the East Kimberley Region, in the remote north of Western Australia.

What is the biggest diamond mine in Australia?

Argyle Diamond Mine
Argyle was at times the largest diamond producer in the world by volume (14 million carats in 2018), although the proportion of gem-quality diamonds was low….Argyle diamond mine.

How rare are Argyle White diamonds?

The Argyle diamond mine is the world’s biggest supplier of diamonds. It yields about 80 percent brown diamonds, some 15 percent yellow hues, about 4 percent white diamonds and the remaining 1 percent are red to pink, green and blue hues.

Why are Argyle diamonds so expensive?

The majority of all pink diamonds mined come from one source in Australia, the Argyle Mine. Argyle Pink Diamonds are so expensive because of the very limited supply. A pink diamond is formed of only carbon like a white diamond, through millions of years in the kimberlite pipes of volcanoes.

How rare are Argyle pink diamonds?

1%
Amazingly, less than 1% of the Argyle mine’s output are actually pink diamonds, making these diamonds the rarest of the rare. This means that for every one million carats of rough diamonds mined at Argyle, only one carat of pink diamonds is suitable for selling.

Who owns the Argyle mine?

the Rio Tinto Group
The Argyle mine is owned by the Rio Tinto Group, a diversified mining company which also owns the Diavik Diamond Mine in Canada and the Murowa diamond mine in Zimbabwe.

Can a diamond be blue?

A truly pure diamond is made of pure carbon, and colorless. For blue diamonds, the color comes from boron trapped in the crystal’s structure. They’re rare, with only about one in 200,000 diamonds showing a bit of blue, and far fewer displaying deep color.

What is the most expensive color diamond?

Red Diamonds
Red Diamonds are the rarest and thus the most expensive diamond color! They come only in a Fancy intensity and the color modifiers for them are purplish (purplish red diamonds) and brownish.

Where is the Argyle diamond mine in Australia?

The Argyle diamond mine, 100% owned by Rio Tinto, is one of the world’s largest suppliers of diamonds, producing approximately 20 million carats each year from its operations in the East Kimberley Region, in the remote north of Western Australia. Argyle employs approximately 750 employees with the majority working at the mine site.

How many employees are there at Argyle mine?

Argyle employs approximately 750 employees with the majority working at the mine site. Argyle commenced mining its main ore body in 1985, and has since produced more than 800 million carats of diamonds. The majority of which are destined for the jewellery industry.

Where are the diamonds in the East Kimberley?

Alongside the East Kimberley’s wealth of natural wonders is one of the state’s most unique tourist attractions- Rio Tinto’s Argyle diamond mine. Argyle Diamonds play a major role in the Kununurra community, with support and sponsorship of various East Kimberley events.

When was the last day of mining at Argyle?

Block cave mining involves undercutting the ore body and allowing it to break up or ‘cave’ under its own weight. It was one of the safest and most economical ways to reach deep into Argyle’s ore body. The last day of mining at Argyle – on the traditional country of the Miriuwong, Gidja, Malgnin and Wularr people – was 3 November 2020.