IndependentsOct 21, 2026
Gardner-Collier Jewelry to Close After 9 Decades in BusinessThe family-owned jeweler has three locations across Missouri and Iowa.
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.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
PodcastsOct 21, 2026
Episode 10: This Episode Is Haunted Diana Singer shared the stories of two “cursed” diamonds on this month’s podcast, which was inexplicably riddled with technical issues.
CrimeOct 20, 2026
Security Guard Charged With Murder in Shooting at Texas MallThe guard opened fire on a man who was smashing a jewelry display case at La Gran Plaza in Fort Worth last week, police said.
Brought to you by
A Diamond Is Forever Launches 2026 Holiday Campaign Championing Natural DiamondsA Diamond Is Forever's holiday campaign reimagines natural diamond icons for a new generation celebrating individuality.
IndependentsOct 20, 2026
David Gardner’s Jewelers Unveils Newly Expanded, Revamped ShowroomThe Texas jeweler added 2,000 square feet to its reimagined showroom, complete with a new design studio and an event space.
Weekly QuizOct 15, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsOct 20, 2026
Mignon Faget’s Collection Chooses Handmade Over AIThe “Atelier” collection was inspired by the tools, rituals, and objects in an artist’s studio as a quiet rebuttal to an automated world.
MajorsOct 19, 2026
The Knot to Acquire Rival Wedding Planning Platform ZolaThe pending acquisition is an “exciting opportunity” for wedding vendors to grow their business, said The Knot Worldwide’s CEO.
Brought to you by
Open an Account, Get $50 Off Your First Order. No Code Needed.Built on Relationships. Refined by Craft.
SourcingOct 19, 2026
Jewelry Design Competition Show Airs in Thailand"The Secret Gems" features eight Thai jewelry brands paired with a team of young craftspeople who create jewelry together to win challenges.
CollectionsOct 19, 2026
John Hardy Enters the Medallion Chat With Talisman Collection The brand’s “Modern Talisman” capsule collection introduces pendants inspired by the mythology, natural world, and spiritual ethos of Bali.
IndependentsOct 19, 2026
The Stories of 5 Jewelers Celebrating Their Centennials in 2026Independent jewelers from New Mexico to New Jersey answer the question: What has kept your store in business for 100 years?
SurveysOct 16, 2026
How Inflation, Gas Prices Will Affect Holiday Sales The NRF is expecting holiday sales to increase this year, but consumers and retailers alike are facing Grinch-like headwinds.
CollectionsOct 16, 2026
Christina Puchi’s Earrings Hold the UniverseOur Piece of the Week gathers the planets, represented by a variety of colored gemstones, in a pair of 14-karat yellow gold earrings.
IndependentsOct 16, 2026
Reeds Jewelers Expands, Relocates FlagshipThe New York-based jeweler is moving its Amherst flagship store to a larger location in nearby Snyder.
MajorsOct 16, 2026
Katy Chen Appointed Executive Vice President of Graff USA Chen, who worked at Cartier and Tiffany & Co., will lead retail sales and operations for the luxury jeweler’s 11 U.S. stores.
IndependentsOct 15, 2026
Retailer Hall of Fame 2026: Amy and Elise Greenberg For 40 years, sisters Amy and Elise Greenberg have helmed their 126-year-old family business, leading with appreciation and integrity.
ColumnistsOct 15, 2026
Peter Smith: What Is the Culture REP?It’s a term Smith coined and felt compelled to share following a bad experience with an aborted flight and an unfeeling flight attendant.
WatchesOct 15, 2026
Stephanie Gottlieb’s New Movado Watches Are Made for Your Wrist StackMovado teamed up with the New York-based fine jewelry designer on a new collection of Movado Museum Velura watches.
SourcingOct 15, 2026
Signet Jewelers, Richemont May Join Bidder for De Beers, Report SaysThe two companies are reportedly in talks to join the Global Diamond Consortium, led by former De Beers CEO Gareth Penny, as per Bloomberg.
CollectionsOct 15, 2026
Wolf x Marla Aaron's New Jewelry Box Is for Some (Not All) of Your ThingsThe “Some of the Things” box follows the two larger “Everything” box designs with the look and function of antique sewing and toolboxes.
IndependentsOct 14, 2026
Retailer Hall of Fame 2026: Coleman and Mitchell ClarkFourth-generation jewelers Coleman and Mitchell Clark exemplify the best qualities of their predecessors: humility, modesty, and confidence.
SourcingOct 14, 2026
Manuel Marcial de Gomar, ‘The Emerald Whisperer,’ Dies at 90The gem hunter, whose 70-year career was defined by adventure and exploration, is remembered for his steadfast faith and sense of wonder.
FinancialsOct 14, 2026
LVMH’s Jewelry Brands Turn in ‘Very Good’ Performance in Q3 Tiffany & Co. continued its full-scale store renovation project while Bulgari’s high jewelry collection generated “record-breaking revenue.”
Events & AwardsOct 14, 2026
Chicago Responsible Jewelry Conference Releases 2026 ProgramThis year’s sessions feature leading voices from human rights, legal, and conservation organizations.
MajorsOct 13, 2026
David Webb Owner Purchases Lugano JewelryThe high-end jewelry retailer was sold to private investment firm Middle West Partners and a group of longtime clients.
Lab-GrownOct 13, 2026
Stephanie Gottlieb Takes Lab-Grown Diamond Collection WholesaleThe jewelry designer has partnered with Sofer Jewelry to distribute her 85-piece lab-grown diamond collection.
IndependentsOct 13, 2026
Retailer Hall of Fame 2026: Sean DunnDunn, this year’s Single-Store Independent inductee, is passionate about innovation and telling the story of natural diamonds.
