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(IT-NEWSWIRE.COM, October 08, 2021 ) Ontario, Canada -- The closure of the Rio Tinto Group ‘s Argyle mine in November 1, 2020 put traders and investors in uncertainty, since the mine was the supplier of 90 percent of the world’s most expensive pink diamonds. Experts are wondering how the market will meet the demand.
In 2020, the Rio Tinto’s annual pink diamonds tender took place at the New York Peninsula Hotel where attendees watched with intensity and bewilderment at 64 diamonds that made up 56.28 carats. The stones themselves are always breathtaking. However, with the closure that loomed, and the uncertain source of colored diamonds to meet the demand, the attendees were overwhelmed with “heightened sense of nostalgia,” according to Financial Post.
The precise impact of the closure on the market remains to be seen, but with demand growing, a further reduction in the limited supply is likely to push rising prices even higher. In fact, “the prices of pink diamonds have risen 300 percent in the past decade,” indicates Rebecca Forester, president for North America at Alros PJSC. The closure brings greater premium than ever on Argyle pinks and other pink diamonds, and the rosy gems will remain among the most collectible in the world,” writes Gloria Fund at SCMP.
Rio Tinto’s own data show that the prices for their Argyle pink diamonds have risen 500 per cent since 2000, though it won’t reveal the specific amount bidders have paid at any of its tenders according to Financial Times. However, insiders know the direction of the market. Olya Linda an expert at the Bain & Co. in Moscow, with background knowledge reveals that “pink diamonds go for about US $1 million to US $3 million a carat.”
With prices of the colored diamonds skyrocketing as result of the closure of the Argyle mine, investors are likely to look elsewhere. However, other sources do not produce pink diamonds as the Rio Tinto mine. “We see pink diamonds from time to time from other operations, but none produce in a consistent way like Argyle,” explains Alan Chirgwin, vice president for sales and marketing of Rio Tinto.
The closure of the Rio Tinto has drastically decreased the supply of pink diamonds; by so doing, the demand has skyrocketed. However, for investors, this is an opportunity to invest in an industry with “benefits of ownership that include ultimate privacy and a history of double digit yearly increases,” reports Financial Times.
With such an opportunity, how do investors have access to information when a few tenders are held in secrecy for few diamonds dealers and investors? Those seeking to diversify their portfolios should seek expert advice.
Expert Advice and Access to the pink diamond market
To be successful in the colored diamond market, the investor must have connections. It is therefore imperative to deal with experts that have access to the diamond global market. Mr. David Metcalfe, President of Premier Diamond Group (North America) Ltd., is an expert with access to the global market. He is “a pioneer in the branding of natural colored diamonds as a hedge against excessive market volatility brought about by speculation and government credit excesses.” For more information, go to http://premierdiamondltd.com/portfolio-protection/.
About Premier Diamond Group (North America) Ltd
Premier Diamond Group specializes in the purchase and sale of natural colored diamonds for wealth accumulation and estate planning purposes. The firm holds membership in the International Colored Gemstone Association and the U.S. Chamber of Commerce.
For more information, go to http://premierdiamondltd.com/.
Contact Information
Premier Diamond Group (North America) Ltd.
David Metcalfe, President
Skyway Business Park,
170 Attwell Drive, Suite 100
Toronto, Ontario M9W 5Z5
Phone: 416-679-9306
Email: info@premierdiamondltd.com
Disclaimer
This report is based on information available to the public. The information and any statistical data contained herein has been obtained from sources we believe reliable, but we do not represent that they are accurate or complete and should not be relied upon as such. The material contained herein is for information purposes only.
Premier Diamond Group (North America) Lt
David Metcalfe
416-679-9306
info@premierdiamondltd.com
Source: EmailWire.Com 
Source: EmailWire.com
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