3-11-2020
Rio Tinto has celebrated its final day of excavation at its iconic Argyle diamond mine, Western Australia's only operational diamond mine, after 40 years.
The mine has produced more than 865 million carats of rough and is one of the well-known sources of pink diamonds worldwide, with over 90 percent of the world’s rare pink and red diamonds originating from there. The last Argyle Pink Diamonds Tender will be held in 2021.
'The drilling costs are growing, and profits deriving from the diamonds produced are not enough to cover operation costs,' subsidiary retailer Argyle Diamond Investments said on its website. The company only had enough reserves to mine to the end of the year.