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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rio Tinto plc    RIO   GB0007188757

RIO TINTO PLC

(RIO)
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Rio Tinto : diamonds dazzle in rough diamond tender

10/21/2020 | 01:00am EST

PERTH, Australia-- A selection of the finest rough diamonds from Rio Tinto's Canadian and Australian mines will be tendered to diamond specialists from around the world in October and November.

Headlining Rio Tinto's forthcoming 'Specials' Tender, which showcases rough diamonds greater than 10.8 carats, is Lot number 1, Diavik Helios, a 74.48 carat Fancy yellow diamond. The Diavik Helios takes its name from the pure yellow sunlight emitted by the mythical Greek God of the Sun.

Fancy yellow diamonds are rare finds from the Diavik diamond mine in the remote Northwest Territories of Canada which primarily produces high quality white diamonds. Patrick Coppens, General Manager, Sales and marketing for Rio Tinto's diamonds business said 'Since the Diavik mine began production in 2003 it has produced on average only five large yellow diamonds each year, in effect less than 0.001 per cent of Diavik's annual production.

'The Diavik Helios is an exceptional diamond in terms of its colour saturation and clarity and will be in strong demand from coloured diamond specialists around the world.'

The Specials tender is also notable for including the last of the rough diamonds in this category from the Argyle mine in the east Kimberley region of Australia. 28,399 carats of rough Argyle diamonds are included, showcasing the famed Argyle coloured diamonds, together with a beautiful 26 carat white gem quality rough Argyle diamond.

Andrew Wilson, General manager of the Argyle mine said 'Since it began production in 1983, the Argyle mine has produced more than 865 million carats of rough diamonds. With the mine closing at the end of 2020 the Argyle rough diamonds presented at this tender are a final rare and collectible offering from one of the world's greatest diamond mines.'

The Tender will be physically showcased in both Antwerp and Tel Aviv, together with virtual and online viewings to cater for COVID-19 restrictions. Bids close on November 9, 2020.

Category: Argyle

Disclaimer

Rio Tinto plc published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 04:59:04 UTC


© Publicnow 2020
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Financials (USD)
Sales 2020 42 560 M - -
Net income 2020 9 722 M - -
Net Debt 2020 3 413 M - -
P/E ratio 2020 10,5x
Yield 2020 6,64%
Capitalization 110 B 110 B -
EV / Sales 2020 2,66x
EV / Sales 2021 2,68x
Nbr of Employees 46 000
Free-Float 65,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 65,59 $
Last Close Price 65,54 $
Spread / Highest target 46,0%
Spread / Average Target 0,08%
Spread / Lowest Target -33,5%
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NameTitle
Jean-Sébastien Jacques Chief Executive Officer & Executive Director
Simon Robert Thompson Chairman
Jakob Stausholm Chief Financial Officer & Executive Director
Michael Gerard L'Estrange Independent Non-Executive Director
Megan Clark Independent Non-Executive Director
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