Gemporia's 18th Birthday: The Last of Argyle

| 3 min read

Back in 2020, after 37 years of bringing us some of the world’s finest Diamonds, Rio Tinto made the decision to close Australia’s Argyle Diamond mine. During its time, Argyle provided around 865 million carats of Diamonds, and claimed the status of being the world’s largest Diamond mine by volume produced.

However, due to the mine’s closure and deposits diminishing, Argyle Diamonds are heavily sought after and are running out fast. Here at Gemporia, we’re currently saying goodbye to our last remaining parcels of Argyle Diamonds; so, to commemorate the end of a spectacular era in the gemstone world, we’re taking a look back at the discovery, history and legend that is the Argyle Diamond.

DISCOVERY AND HISTORY OF ARGYLE

Argyle Diamonds

The Argyle Diamond was discovered in 1979 by London-born geologist Maureen Muggeridge. After making her way to Perth, Western Australia in 1972, Muggeridge discovered Diamonds in the flood plains surrounding Smoke Creek, a small stream which drained into Lake Argyle.

After Muggeridge’s discovery the Argyle mine grew and grew, and spent the next four decades producting around 865 million carats of Diamonds. The mine’s most successful year was 1994, after 42.8 million carats were produced in that year alone.

However, it wasn’t just one variety of Diamond that the Argyle mine produced; During its time in operation, the Argyle mine produced over 90% of the world’s supply of Natural Pink Diamonds. It's no secret that the closure of the mine caused the prices of Pink Diamonds to increase, and the possibility of ever finding another reliable supply of them remains uncertain.

THE MINE CLOSURE

Argyle Mine, Australia

Fast forward from its discovery to 2013, and a huge amount of effort was taken to keep the Argyle mine open for as long as possible. To allow miners to hunt deeper for more Diamonds, Argyle converted to an underground mine; however, the deeper into a mine you go, the more expensive the operation gets – as a result, the economies of mining became unbalanced.

Eventually, the mining costs began to outweigh the level of Diamonds produced, which prompted Rio Tinto to make the difficult decision to close the Argyle mine in 2020.

OUR ARGYLES

Argyle Diamonds

As deposits continue to diminish, we are extremely fortunate to be able to still bring you a small collection of exceptional Argyle pieces, including the finest White and Champagne Diamonds. However, just like the mine, these pieces aren’t going to be around forever – the parcels we have currently are the last we will ever be able to bring to you, and once they’re gone, we will have no choice but to say goodbye to Argyle forever.

To take advantage of one of your very last chances to own a piece of Diamond history, either tune in to our live auction or shop our website. We don’t want you to miss this final opportunity, so make sure you’re with us as we say farewell to our last ever Argyle Diamond jewelry.

Argyle Diamonds

To watch our upcoming Argyle Diamond shows, tune in live: www.gemporia.com/en-us/auction

To shop Argyle Diamonds on our website, visit: www.gemporia.com/en-us/argyle-diamonds

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