Argyle Diamonds
The historic Argyle mine - world's primary pink diamond source, closure in 2020, and impact on the diamond market.
By Fabian Moor
Last updated
australia diamond argyle pink-diamond fancy-colour
Introduction
The Argyle mine in Western Australia was the world's primary source of
pink diamonds, producing over 90% of global supply during its operation.
[1] Its closure in November 2020 marked the end of an era
and has significant implications for the coloured diamond market.
The Argyle Mine
History and significance:
Discovery & Operation
- Discovery: 1979 (diamond pipe identified)
- Production start: 1983
- Closure: November 2020
- Location: East Kimberley region, Western Australia
- Operator: Rio Tinto
- Type: Lamproite volcanic pipe
Production Profile
- Total production: Over 865 million carats (all colours)
- Annual peak: Up to 40 million carats/year
- Pink diamonds: ~90% of world supply
- Volume: World's largest diamond mine by volume
- Quality: Mostly industrial; fine gems rare
Pink Diamond Production
Argyle's signature product:
Characteristics
- Colour cause: Structural deformation (not impurities) [1]
- Range: Light pink to deep purplish-pink
- Rarity: Less than 0.1% of Argyle production
- Unique: No other significant pink diamond source
Grading System
Argyle developed its own colour grading:
- 1-9 scale: 1 being most saturated
- Colour descriptors: Pink, Purplish Pink, Pink Rose, Pink Champagne
- Tender stones: Finest pieces sold at exclusive annual tender
Historic Source Closed
Other Argyle Colours
Beyond pink diamonds:
Champagne/Cognac
- Brown diamonds in various shades
- Argyle created market for these colours
- C1-C7 grading scale developed
- More affordable fancy colour option
Blue Diamonds
- Rare Argyle production
- Type IIb (boron-coloured)
- Extremely valuable
- Very limited numbers
Red Diamonds
- Rarest of all diamond colours
- Saturated pink = red
- Only a handful ever found
- Museum and collector pieces
Market Impact
Closure effects on diamond market:
Supply Implications
- No replacement source for pink diamonds
- Existing stones become finite collectibles
- Prices rising since closure
- Investment demand increasing
Provenance Value
- Argyle certification adds premium
- Documentation of origin critical
- Tender history most prestigious
- Lot numbers traceable to mine records
Future Outlook
- Pink diamond supply constrained indefinitely
- Values expected to appreciate long-term
- Synthetic pinks available but distinct market
- Natural Argyle increasingly collectible
Collecting Argyle Diamonds
Considerations for collectors:
- Documentation: Argyle certificate essential
- Grading: Understand Argyle's unique system
- Investment grade: 1-3 on Argyle scale
- Tender history: Ultimate provenance
- Size: Larger pinks exceptionally rare
- Matching: Pairs/sets extremely valuable
Other Australian Gems
Additional notable Australian production:
| Gem | Location | Notes |
|---|---|---|
| Zircon | Various | Various colours; heat treatment common |
| Emerald | New South Wales | Limited production; Emmaville area |
| Topaz | Various | Blue, colourless; some imperial colours |
| Garnet | Various | Multiple species; commercial grade |
| Prehnite | Western Australia | Collectors; some gem quality |
| Jade (nephrite) | South Australia | Some production; black jade noted |
References
- ↑ 1. Schumann, W. (2009). Gemstones of the World (4th ed.). Sterling Publishing. ISBN: 978-1-4027-6829-3.