SourcingMay 27, 2021
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Rio Tinto Will Retain the Argyle Pink Diamonds Brand
Though the mine closed in November, the company still sees ample opportunity for the brand.
The final five “hero” stones from the Argyle mine offered in this year’s tender. Miner Rio Tinto said it will retain the Argyle Pink Diamonds brand in its portfolio despite the mine being closed.
Sydney—Following the closure of the Argyle diamond mine last fall, Rio Tinto has announced it will retain the Argyle Pink Diamonds brand in its portfolio.
Rio Tinto is currently holding the 2021 Argyle Pink Diamonds Tender, its last comprising stones from the mine. This year’s event consists of 70 diamonds weighing a total of 81.63 carats.
Argyle officially closed in November.
The Argyle Pink Diamonds brand is 37 years old, according to Rio Tinto, having built “significant global reach” with ample opportunities for the brand beyond the end of mining, and the mining company said it will “continue to support market development activities in the coming years.”
Argyle Pink Diamond’s brand assets include a range of globally registered trademarks and a collection of physical and digital marketing assets and processes, according to the miner.
They also include years of “price discovery” after having produced and sold nearly all the global supply of pink diamonds for almost four decades, a Rio Tinto spokesperson said.
Though Argyle pink diamonds will no longer be mined by Rio Tinto, there will still be inventories of its stones available globally in both polished diamonds and jewelry through its partners or circulating in the secondary market, the company said, adding it will “work with its network of Argyle Pink Diamonds stakeholders with regard to taking the Argyle Pink Diamonds brand into the future.”
Editor’s note: This story was updated on July 20, 2021 to add brand information provided by Rio Tinto post-publication.
Related stories will be right here …
Rio Tinto is currently holding the 2021 Argyle Pink Diamonds Tender, its last comprising stones from the mine. This year’s event consists of 70 diamonds weighing a total of 81.63 carats.
Argyle officially closed in November.
The Argyle Pink Diamonds brand is 37 years old, according to Rio Tinto, having built “significant global reach” with ample opportunities for the brand beyond the end of mining, and the mining company said it will “continue to support market development activities in the coming years.”
Argyle Pink Diamond’s brand assets include a range of globally registered trademarks and a collection of physical and digital marketing assets and processes, according to the miner.
They also include years of “price discovery” after having produced and sold nearly all the global supply of pink diamonds for almost four decades, a Rio Tinto spokesperson said.
Though Argyle pink diamonds will no longer be mined by Rio Tinto, there will still be inventories of its stones available globally in both polished diamonds and jewelry through its partners or circulating in the secondary market, the company said, adding it will “work with its network of Argyle Pink Diamonds stakeholders with regard to taking the Argyle Pink Diamonds brand into the future.”
Editor’s note: This story was updated on July 20, 2021 to add brand information provided by Rio Tinto post-publication.
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