Argyle Diamonds
The historic Argyle mine - world's primary pink diamond source, closure in 2020, and impact on the diamond market.
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.
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)
- 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 |