Digging for Billions: Inside the World's Mega Diamond Mines

9. Argyle Diamond Mine (Australia)

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Situated in the far-off East Kimberley area of Western Australia, the Argyle Diamond Mine is special in the annals of diamond mining. Although its activities stopped in November 2020 following 37 years of production, its influence on the worldwide diamond market and legacy still ring true. Particularly its famed pink diamonds, Argyle was well-known for creating some of the most unusual and sought-after diamonds in the world. Founded in 1979 and started running under Rio Tinto's control in 1983, Argyle Discovering the mine came from a creative research method that followed indicator minerals back to their source, guiding geologists to the rich Kimberley diamond reserves. This finding not only proved Australia's significant diamond output but also disproved conventional wisdom regarding the possible locations for diamonds. Argyle was unusual in several respects. Argyle's diamonds were discovered in lamproite pipes, a rarer kind of volcanic rock than other diamond mines that dig jewels from kimberlite pipes. This geological oddity helped to define Argyle diamonds' unique qualities, especially their well-known pink tones. The mine produced a great range of diamond colours, including white, champagne, cognac, and the quite unusual blue and violet diamonds. Still, the pink diamonds—more than 90% of the world's pink diamond output—were what really distinguished Argyle. Argyle, which yearly produced around 8 million carats, was among the biggest diamond growers in the world at its height. Most of these diamonds, though, were industrial grade. The real worth of the mine was its output of premium coloured diamonds, especially the pinks, which sold for shockingly high rates in the market. Showcasing the rarest and most costly stones generated by the mine, the annual Argyle Pink Diamonds Tender became among the most awaited events in the diamond business. Argyle had a major effect on the local population as well as the larger Western Australia area. In a far-off location, the mine created jobs and economic possibilities, thereby helping to shape infrastructure and services. Rio Tinto ran large-scale projects involving local Indigenous people including business development projects, training, and employment programmes. Signed in 2004 with the traditional land owners, the Argyle Land Use Agreement established fresh guidelines for Indigenous participation in the mining sector. Argyle's operational life was much focused on environmental management. The mine carried out extensive initiatives in land rehabilitation, biodiversity protection, and water management. Rio Tinto created a thorough mine closure plan in collaboration with local governments and communities as operations slowed down. This scheme calls for long-term site monitoring provisions and significant environmental restoration initiatives. The end of an era in diamond mining came with Argyle's 2020 shutdown. The worldwide diamond market has suffered greatly since Argyle stopped producing pink diamonds; their increased rarity has caused prices for current Argyle pink diamonds to rise. As the sector looks for fresh sources of rare coloured diamonds, the closing of the mine has also spurred fresh enthusiasm in diamond exploration in Australia and other countries. Argyle is more than just geologically and economically important. The mine set new benchmarks for ethical and sustainable mining methods and was instrumental in Australia's emergence as a significant participant in the world diamond market. Particularly in the processing of lower-grade diamond resources, the technologies and methods created at Argyle have shaped mining operations all over. The story of Argyle reminds us of the limited nature of mineral resources and the need of appropriate stewardship as the diamond business advances. The success of the mine in creating some of the most sought-after jewels from what was formerly thought of as an improbable source still motivates diamond industry research and development.