Argyle Pink Diamond Mine to Close in 2020

Australian Argyle Pink Diamond Mine


The Argyle Diamond Mine in Western Australia is the world’s only consistent source of natural pink diamonds. Home of the extraordinarily rare Argyle Pink Diamonds, the mine will cease production permanently by the end of 2020.

When the curtain falls on the source of more than 90 percent of the world’s pink diamonds, it will be met with unprecedented demand. As awareness of the finite supply of Argyle Pink Diamonds increases, so too will their value. Beyond Rare™ Argyle Pink Diamonds will be increasingly sought after for their beauty and investment potential by those who can afford to hold a precious piece of history in their hands.


In the Beginning

While diamonds were formed deep within the Earth’s mantle 1.6 billion years ago, the Argyle Pink Diamond story is only about 40 years old. In 1979, a group of geologists in Western Australia Outback near the Argyle River spotted a glimmer from a faraway anthill. That speck of light turned out to be a diamond… a pink diamond.

Not far from this important discovery, mining company Rio Tinto opened the Argyle Diamond Mine in 1985. Since then, the Argyle mine is unrivaled by any other mine or country on the globe for its continuous stream of natural pink diamonds of extraordinary color, brilliance, and beauty.

In that time, the Argyle Mine has yielded some 865 million carats of diamonds, yet only 5 percent have been of the quality used in jewelry and only one hundredth of a percent of these are the celebrated Argyle Fancy Pink Diamonds. In other words,  the annual production of Argyle Fancy Pink Diamonds could fit into the palm of your hand!

“It seems certain that the desire for these rarities can only intensify still further with the prospect of mine closure. They are nature’s own ‘limited edition,’ with a story that will be told and passed on by those of us who have been privileged to live through and witness the entire life cycle of one of the world’s greatest gemstone discoveries.” — Vivienne Becker, noted jewelry historian on


1.27-carat Fancy Intense Pink Diamond and Argyle Diamond Ring

1.27-carat Intense Pink Diamond and Argyle Diamond Ring

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Exceptional Pear-Shaped Argyle Pink Diamond Ring

Exceptional Pear-Shaped Argyle Pink Diamond Ring

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1.27-carat Fancy Intense Pink Diamond and Argyle Diamond Ring

0.55-carat Fancy Deep Pink Diamond Ring

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Legendary Pinks

Argyle Pink Diamonds are relatively small, but their combination of breathtaking colors and overall quality keeps them in high demand.  Argyle Pink Diamonds include soft baby pinks to peach pinks to “sweet” purplish pinks, and on the very rarest occasions, violets, reds and blues.

According to the Robb Report,

“Argyle’s pink diamonds shine with an intense, bubblegum-like vibrance that acts much like a gemological fingerprint; it’s unique in the world and makes the stones from this mine instantly recognizable to a loupe-wielding expert.” — The Robb Report

What makes Argyle Pink Diamonds pink? Unlike natural blue diamonds and natural yellow diamonds which contain trace element of boron and nitrogen respectively, natural pink diamonds have a distortion in the atomic structure of their crystals. Argyle Pink Diamonds feature a highly unusual inner graining which demands special diamond-cutting expertise to coax the most color from the stones.

According to Rio Tinto, only two master cutters work on the diamonds in Perth, Australia, cutting and polishing each Argyle Pink Diamond for release. The most exceptional Argyle Pink Diamonds are made available each fall at the legendary Argyle Pink Diamonds Tender.



Love Me Tender

The highlight of the Argyle Pink Diamonds program is the annual invitation-only tender attended by just 150 of the world’s most prestigious dealers, jewelers and connoisseurs. Held annually since 1984, the Argyle Pink Diamonds Tender will celebrate its grand finale in 2020.

When Rio Tinto announced the imminent closing of the mine last year, it was predicted there were only about 150 pink diamonds left to be unearthed. If the 2019 Tender is any indication, the 2020 tender, scheduled for October, promises to be the diamond event of the century.

Rio Tinto’s tenders typically begin in Perth with stops in Singapore, London and New York before the sealed bids close. The results are closely-held secrets, but it is safe to say that last year’s sale broke all previous records.

This upward trend is expected to continue as the last Argyle Pink Diamonds are acquired.

Brian Denney, a Natural Color Diamond expert and CEO of Gems of Note is a veteran of several Argyle Pink Diamonds tenders and has purchased rare Argyle Pinks over the years at the New York stop of the tour

For me and for my most discerning Natural Color Diamond clients, the Argyle Pink Diamond is the most esteemed diamond in the world. Beyond their inherent beauty and rarity, there is something unquantifiable and almost spiritual about them. This is only intensified when you consider that the 2020 offering will represent the end of an era for these incomparable pinks.” — Brian Denney, Gems of Note


What’s Next?

“Investors buy pink and diamonds with a view to resale and they have been amply rewarded with higher returns than equity markets. This translates to a yield of over 10 per cent each year, or 500 per cent over the past 20 years.” — Gaynor Thomas, South China News

As the diamond world awaits the final Argyle Tender and the closing of the mine at year’s end, many pundits speculate about how these precious pinks will shoot up in value.

“It’s the law of supply and demand. These diamonds will be highly sought after, like the works of a famous artist who is no longer creating new pieces. Whether you collect these diamonds for investment, wear them and pass them on to future generations, or simply delight in the opportunity to hold a piece of history, Argyle Pink Diamonds are the most extraordinary gems of our lifetime.” — Brian Denney, Gems of Note


For more information, or to arrange a private appointment to view these and other Natural Color Diamonds and important jewels, please contact Brian Denney, FGA, GG, at (217) 370-5795