Rio Tinto is celebrating the 25th anniversary of its pink diamond tender with its first-ever viewing in India.
The tender, titled "Grand Passions," comprises 43 rare pink diamonds and has been showcased in Mumbai, India, to a select group of Indian diamantaires, collectors and high-net-worth individuals.
"Grand Passions" includes a 2.61-carat heart-shaped intense-pink diamond called the "Argyle Amour," and "Scarlett," a 1.10-carat oval-shaped red diamond.
"Presenting the Argyle Pink Diamond Tender in Mumbai is a reflection of the emerging importance of India as a source of demand for colored diamonds," Jean-Marc Lieberherr, general manager for sales and marketing for all diamonds from Rio Tinto’s mines, said in the release. "Whilst India has traditionally been a manufacturing center for the champagne diamonds from the Argyle mine, we are now seeing signs of latent domestic demand for colored diamonds in India. Earlier this year, we had a great response from Indian diamantaires to our tender of rare blue diamonds from the Argyle mine, and this encouraged us to look to Mumbai as a 2009 pink diamond tender viewing location."
The tender will travel to a number of locations before concluding in Perth, Australia, in late September. (The collection will not make any stops in the United States.)
In addition, Rio Tinto marked another milestone in India with the celebration of the 20th anniversary of its Mumbai office.
In a press conference held in India over the weekend, senior management from Rio Tinto reflected on the past, present and future of the diamond industry in India, which is expected to be a driver of future growth in country.
According to a press release, Rio Tinto has spent more than $25 million on diamond mine exploration in India over the past five years. The work has resulted in the discovery of many pipes, with the Bunder project a first of its kind in India and set to be world-class diamond mine, the release states.
"We would be delighted to be mining and marketing Indian diamonds in the not-too-distant future," said Bruce Cox, managing director of Rio Tinto Diamonds.
Source: nationaljewelernetwork.com
