05 Nov 2020

Iconic WA diamond mine to close, making rare pink gems ‘the new Faberge egg’

This article originally appeared in The Australian and can be accessed here.

The West Australian mine that produces 95 per cent of the world’s pink diamonds will close forever this week and the already high value of the precious gemstone is set to explode as a result.

Rio Tinto’s Argyle mine in the far east Kimberley region ceases production on Tuesday after unearthing more than 865 million carats of variously hued diamonds since beginning operations in 1983.

It has simply run out of sufficient reserves to continue economically-feasible mining.

Gemologist Olivar Musson, the creative director Sydney-based Musson Jewellers, said Argyle pink diamonds had increased in value by 500 per cent over the past 37 years and were going to be worth a lot more. read more

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05 Nov 2020

Rio Tinto’s Argyle diamond mine stops production after 37 years

This article originally appeared on ABC News and can be accessed here.

They say diamonds are forever, but time is finally up for Australia’s only operational diamond mine in Western Australia’s remote Kimberley region.

Since opening its doors almost 40 years ago, Rio Tinto’s Argyle diamond mine has produced 865 million carats of rough diamonds and is one of the few known sources of pink diamonds in the world.

But today the very last of these precious gems will be mined from the site, located within the ancient Matsu Ranges more than 3000 kilometres north of Perth.

Argyle general manager Andrew Wilson said employees and traditional owners would come together in a ceremony this morning to mark the historic milestone. read more

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05 Nov 2020

Rio Tinto stops operating at Argyle after 37 years

This article originally appeared in Australian Mining and can be accessed here.

Rio Tinto has completed its final day of mining at the iconic Argyle diamond mine in the East Kimberley region of Western Australia.

The Argyle ore body was discovered in 1979 and mining of the alluvial and surface deposits commenced in 1983. Prior to 1998, no plans had been finalised for the mine to continue past 2002. But Rio Tinto’s decision to build an underground mine below the existing open pit operations in 2005 led to an extended mine life to 2020.

More than 865 million carats of rough diamonds have been produced at the Argyle mine in its 37 years of operations, making it the world’s largest supplier of coloured diamonds. read more

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28 Oct 2020

America decides. The RBA has decided!

It would be remiss of us not to start this week’s market update without extending the warmest wishes from the Australian Diamond Portfolio team to our clients and contacts in Victoria.

We can only imagine how difficult the past few months have been, and we hope you are able to enjoy the freedoms you have had to sacrifice these past few months with your friends, family and loved ones.

In this week’s update, we talk about the upcoming Reserve Bank of Australia (RBA) meeting, scheduled to take place next week, and why it will likely end up being a critically important one for Australian investors trying to build and protect wealth in the years ahead.

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21 Oct 2020

Pink diamonds to benefit from capital rotation

In less than two weeks, the United States is set to go to the polls, with the outcome of the upcoming US Presidential Election set to shake up global financial markets.

Whilst the polls suggest Joe Biden and the Democratic Party will be victorious, betting markets are getting a little tighter, indicating there is some chance current US President Donald Trump will win a second term.

No matter who wins the election, investors will need to position their portfolios to protect and ideally grow wealth against a backdrop of several major trends that will play out in the years to come, irrespective of who ends up in the White House.

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14 Oct 2020

Luxury sales to drive pink diamond demand

Financial markets have continued their rally from late September, despite the resurgence in the spread of COVID-19 in the northern hemisphere, and huge concerns about the upcoming US Presidential Election.

Whilst rallies like this are always good for owners of financial assets, the question of when do you sell, or at the very least rebalance your portfolio will be at the forefront of many investors’ minds.

This is especially true as many indicators point to the rising risks in financial markets, and in the economy, with the latest data in Australia for example pointing out that Australians as a whole still have confidence levels that are as bad as they were in the GFC.

We are also seeing forecasts that up to 20% of households expect to reduce spending on many items in the month to come, as some government support measures like JobKeeper and JobSeeker are wound back.

In this week’s update, we look at trends in sales of luxury items, and recent auction news, all of which support the notion that pink diamonds are set for a strong period of outperformance in the years to come.

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07 Oct 2020

Four great reasons to own pink diamonds!

Just when you thought 2020 couldn’t get any stranger, last week the whole world found out that US President Donald Trump, his wife First Lady Melania Trump and a host of White House employees have all contracted COVID-19.

It only adds to the intrigue and confusion that has been building in the lead up to the US Presidential Election, which is due to take place in four weeks on Tuesday the 3rd November 2020.

Given markets hate uncertainty, there was no surprise that the news of Trump contracting COVID-19, as well as its re-emergence in Europe and other parts of North America was met with an original sell off in stock markets.

Irrespective of who ends up the White House, the bigger picture issue is that in time we will need to deal with the fact that the economic contraction caused by COVID-19 has no easy solution, with traditional investments like stocks and bonds likely to suffer in the years to come.

These trends all reinforce the investment case for pink diamonds, as we explore further in this note.
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30 Sep 2020

Demand for pink diamonds at all-time high!

This week’s market update looks at the latest news regarding the 2020 Argyle Pink Diamonds Tender, which is continuing to attract unprecedented investor interest around the world.

We remain convinced this will help spark the next leg higher in pink diamond prices, with now being the perfect time to reassess your investment portfolio, to make sure it’s appropriately positioned for the difficult years ahead.

For whilst Australia thankfully continues to make progress as regards a return to normalisation from the COVID-19 induced restrictions to people movement and economic activity, we face many difficult years ahead.

Lower growth, higher unemployment and higher public debt are all realities to contend with over the course of this decade, with these trends all helping to encourage investors into hard assets, including pink diamonds.

Argyle Diamond Tender sparks wave of buying!

It has only been four weeks since Rio Tinto unveiled its penultimate Argyle Pink Diamonds Tender. Titled “One Lifetime, One Encounter”, the dazzling range of 62 diamonds, which can be seen in the picture below, has helped spark a rush of buying interest.

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23 Sep 2020

Pink diamonds will pay dividends as investors diversify

The uptick in financial market volatility that we have seen in September continued in the last week, with global financial markets continuing their recent pull-back.

Whilst no one can be sure, we wouldn’t be surprised to see an extended period of uncertainty, with the US election only a few weeks away, and the threat of COVID-19 seeming to re-emerge in parts of Europe.

After our last couple of articles which have looked at the 2020 Argyle Tender, and some of the specifics of the pink diamond market itself, this market update looks at some of the economic and investment factors that continue to encourage astute investors to consider hard assets in the first place.

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16 Sep 2020

Diamonds to shine as tech bubble bursts

It’s been a volatile first two weeks of September in financial markets, with the share prices of market darlings in the technology space particularly vulnerable.

This is a subject we explore in detail in this market update, highlighting why we think hard assets like pink diamonds are better placed to deliver strong long-term returns in the years to come.

We also look at the latest news regarding the recently released 2020 Argyle Pink Diamonds Tender; titled “One Lifetime, One Encounter”, which has sparked a wave of buying interest from clients at Australian Diamond Portfolio.

The market loves Argyle Pink Diamonds

As expected, the release of the penultimate Argyle Pink Diamond Tender; “One Lifetime, One Encounter” has acted to stimulate even greater media interest in pink diamonds, as well as heightened investor interest both locally and overseas.

Some of the key points that we have seen highlighted in recent media coverage about the Tender that we think are most relevant to investors include the following:

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© 2021 Australian Diamond Portfolio. All rights reserved. Diamond image on investment guide cover © Rio Tinto 2021.

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