CrimeMay 03, 2024
Second Suspect Arrested in Murder of Colorado JewelerWheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
SourcingNov 04, 2020
Australia’s Argyle Mine Is Now Closed
On Tuesday, the last ton of ore left the mine famous for its red, pink and purple diamonds.
Argyle’s underground mining manager and its operator traverse the mine’s underground portal for the last time. The Argyle Diamond Mine in Western Australia, which was discovered in October 1979 and mined since 1983, closed Tuesday. (Photo courtesy of Rio Tinto)
Sydney—The Argyle Diamond Mine in Western Australia, the world’s major source for pink and purple stones, marked its last day of mining Tuesday.
Alluvial mining at the site, located in the remote east Kimberley region in Western Australia, started in 1983, with underground operations commencing two years later.
Alluvial mining at the site, located in the remote east Kimberley region in Western Australia, started in 1983, with underground operations commencing two years later.
The mine went fully underground in 2013 and, over the years, produced 865 million carats of rough diamonds.
It became the world’s largest producer of natural color diamonds that span the value spectrum, from low-cost browns to ultra-rare pinks, purples and reds that have skyrocketed in value over the years, captivating the trade and attracting collectors.
The closing of Argyle marks the end of an era in the diamond industry.
Some consider its top stones akin to rare works of art, and they compare the mine’s closure to the death of a great artist.
There’ll be no more diamonds quite like those produced by Argyle, which means, they hope, the mine’s existing works will continue to appreciate in value.
The mine’s operator, Rio Tinto, releases few details on the Argyle Pink Diamonds Tender, its annual sale of the best stones from the past year’s production.
It doesn’t reveal prices paid for individual stones or the total amount brought in by the tender but it did say the value of Argyle pink diamonds has appreciated more than 500 percent in the past 20 years, outperforming all major equity markets.
“It is very special, especially to the people who are experts,” L.J. West Diamonds President Larry West said in an interview with National Jeweler in September.
“It’s a sad moment. It’s the equivalent of a great artist dying, as far as I’m concerned.”
Rio Tinto mined the last load of ore at the Argyle Mine, which has been in operation since 1983, on Tuesday, Nov. 3. (Photo courtesy of Rio Tinto)
The current Argyle Pink Diamonds Tender, called “One Lifetime, One Encounter,” is scheduled to remain open for bids until early December.
Normally, bids close in October but the tender dates were pushed back this year because of the complications caused by COVID-19.
On Tuesday, Rio Tinto said Argyle employees, traditional owners and local stakeholders attended an event at the mine to mark the end of its life.
The company said it will take about five years to decommission and dismantle the mine and rehabilitate the land.
Argyle will continue to employ a smaller workforce throughout the closing process.
More on Sourcing
The Latest
CollectionsMay 03, 2024
A Sneak Peek Into PGI’s Couture Platinum Spotlight ProgramPGI partnered with four new and seven returning designers for its annual platinum capsule collection.
MajorsMay 03, 2024
Kristie Nicolosi Joins WJA Board AgainNicolosi, president and CEO of The Kingswood Company, previously sat on WJA’s board from 2011 to 2018.
Brought to you by
From Registration to Return: 10 Tips to Protect You Before, During and After a TradeshowTradeshow risks are real. Get tips to protect yourself before, during and after and gain safety and security awareness for your business.
CollectionsMay 03, 2024
Piece of the Week: A “Bit of LUV” for the DerbyKarina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Weekly QuizMay 02, 2024
This Week’s QuizTest your jewelry news knowledge by answering these seven questions.
CrimeMay 02, 2024
4 Indicted in Burglary Ring Targeting Indian, South Asian FamiliesThe men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
CollectionsMay 02, 2024
Foundrae Launches ‘Horizon’ Collection“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
Brought to you by
Rio’s Reimagined Podcast: For the Love of JewelersMeet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
FinancialsMay 02, 2024
Pandora Raises Guidance After Strong Q1The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
IndependentsMay 02, 2024
Oklahoma Jeweler Glenn Lewis Dies at 68The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
AuctionsMay 02, 2024
Vintage Baume & Mercier With Ties to Elvis Sells for $7K Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
SurveysMay 01, 2024
Consumer Confidence Falls in AprilConcerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
TrendsMay 01, 2024
Amanda’s Style File: All Eyes on EmeraldsMay’s birthstone is beloved for its rich green hue and its versatility.
CrimeMay 01, 2024
Grand Jury to Hear Case Against Jeweler Charged in Fatal Shove Following IJO ShowLast month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
CollectionsApr 30, 2024
12 Otherworldly Pieces From Tiffany & Co.’s 2024 Blue BookThe “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
MajorsApr 30, 2024
Zales Celebrates 100 Years With New CampaignThe brand also created a 100-carat lab-grown diamond necklace in honor of its centennial.
MajorsApr 30, 2024
Platinum Guild International Appoints New CEOTim Schlick has been promoted from his previous position as COO.
Events & AwardsApr 30, 2024
Canadian Jewellers Association Brings Back the Summit It’s the second year for the event, slated to take place in October in Toronto.
Recorded WebinarsApr 29, 2024
Watch: Diamond Identification and Evaluation - How to Protect your BusinessSupplier Spotlight Sponsored by GIA
CollectionsApr 29, 2024
Simone I. Smith Mixes Denim and Diamonds in New Collection“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
IndependentsApr 29, 2024
Venus Jewelers Relocating After 45 YearsThe retailer is moving to a newly designed space in the same shopping center.
SurveysApr 29, 2024
Mother’s Day Jewelry Spending to Reach $7B, Says NRFGifts that are unique and thoughtful are top of mind this year, according to the annual survey.
CollectionsApr 26, 2024
Piece of the Week: Jacquie Aiche’s Starry Galaxy NecklaceThe necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Events & AwardsApr 26, 2024
AGS Conclave and GIA Symposium Are ConvergingThe two organizations will host a joint event, “Converge,” in September 2025.
SourcingApr 26, 2024
Anglo American Reportedly Shopping De Beers as BHP Eyes Anglo Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Events & AwardsApr 25, 2024
Alexis Padis Takes Over as AGS Board President Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
