Question: Can you buy diamonds at Lake Argyle?

Is it worth buying Argyle Diamonds?

Most diamonds have at least one secondary color, so pure Argyle Diamonds are considered extremely rare and valuable. The higher the intensity or strength of the color, the more expensive the stone.

Can you still visit the Argyle diamond mine?

In support of the local tourism industry, the Argyle diamond mine is open to visitors on guided tours departing from Kununurra. A day trip to the mine will give visitors a rare insight into the scope of a large mining operation and the history of its relationship with Traditional Owners.

What are Argyle diamonds worth?

For an argyle diamond price will start at 80,000$ per carat and can go up to a million dollars per carat. For example, one of the rarest pink diamonds in the world was sold at an auction for a record 46 million.

Why did Argyle diamonds close?

The diamonds mined in Argyle are of average to low quality. … Despite this, the increasing operation cost and a stagnant diamond market, are forcing Argyle mines to close by 2020. Another reason for the closure is that the mines are so deep now that further excavation is unviable.

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Will Argyle diamonds increase in value?

The Argyle Mine

This mine produces 90% of the world’s diamonds. … Now that the mine is said to close in early 2019, experts say that the price of these diamonds will rapidly increase as new diamonds will no longer actively be mined.

What Colour are Argyle diamonds?

Argyle pink diamonds are so rare that of every million carats of rough diamonds produced at the mine, a mere one carat is suitable for sale. For this reason, it is perhaps the most sought after diamond in the world, fetching up to 100 times the value of an equivalent white diamond.

Who owns the Argyle diamond mine?

The Argyle mine is owned by the Rio Tinto Group, a diversified mining company which also owns the Diavik Diamond Mine in Canada and the Murowa diamond mine in Zimbabwe.

Argyle diamond mine.

Location
Opened 1985
Closed 2020
Owner
Company Rio Tinto Group

Where have diamonds been found in Australia?

Diamonds in Australia were recorded in the Bathurst area, New South Wales in 1851. Significant quantities also were mined from alluvial deposits at Copeton and Bingara, near Inverell in north-eastern New South Wales, from 1867 to 1922 and minor production resumed at Copeton in 1997, but has since stopped.

Are Argyle diamonds Ethical?

Argyle Mines

How do the mines fit in with ethical standards? In all truth – they fit in very well. The mines adhere to safety and human rights regulations, they do not profit off conflict.

Why are Argyle diamonds pink?

Yellow diamonds contain traces of nitrogen, and blue diamonds contain boron. But no similar impurities have been found in pink diamonds, leading scientists to speculate that the colour may be the result of some kind of seismic shock that altered the stone’s molecular structure.

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How are Argyle pink diamonds graded?

The diamonds are also graded based on their colour intensity, with a number from 1 (the highest intensity) to 9 (the lowest). The colour saturation of your pink diamond is one of the main factors in the price of your investment. As a rule for investing, look for a pink diamond that is a 1 to 6 P, PP or PR in colour.

How much is a 1ct pink diamond worth?

A 1 carat regular fancy pink diamond can be sold from $140,000 to $180,000, depending on its quality. A similar Argyle stone easily sells for at least $200,000. This exquisite 1.02 carat intense pink diamond costs $193,000.

Where pink diamonds are found?

Pink diamonds are regarded as among the rarest type of diamonds in the world. Around 90% of these pinkish gems are found in the Argyle mines in the Kimberley Region in Western Australia. Pink diamonds are also found in other areas such as in Russia, India, South Africa, Canada, and Brazil.

Where can I find diamonds in Western Australia?

The Kimberley region, in northern Western Australia, has been a prolific source of diamonds since the 1980s.

Can you get Red diamonds?

Red diamonds are so rare that a shockingly low number of pure red diamonds actually are known to exist. Currently, only 20-30 pure red diamonds have been found, and most of those diamonds are less than half a carat in size. The expense of a red diamond is not just prestige.