World's Most Precious Pink Diamonds Go on Sale

World's Most Precious Pink Diamonds Go on Sale

September 22, 2007

-- Vintage Year Produces Most Vivid Collection of
Celebrities' Favourite Diamonds

    ARGYLE, Scotland, Sept. 22 /Xinhua-PRNewswire/ -- 

    Diamond experts and high society figures across the
globe are preparing for the 23rd annual Rio Tinto Diamonds
Argyle Pink Diamond Tender held in Perth (September 11-14th
2007), Hong Kong (September 18th - 28th 2007) and New York
(October 1st - 12th 2007).

    The world's most exclusive diamond sale will feature 65
of the world's rarest pink diamonds from the Argyle mine in
Australia - the world's main source of pink diamonds with
an unparalleled depth of colour and quality.

    This year's Tender promises to be one of the most
exciting to date, with the Argyle Signature Stones
possessing deeper and more vivid colour intensity than
previously seen in the Tenders. Spectacular purplish reds,
as well as stunning deep pinks and a rare grey-violet
diamond are included.

    Excitement around the Pink Diamond Tender is
understandable. Since the first pink diamonds were
recovered from the mine in 1985, demand for these
exceptional gems has attracted a cadre of elite and
discrete buyers. The pink diamond jewellery market is now
worth hundreds of millions of dollars as the desire to own
the rarest has sent prices skyrocketing.

    It is not unusual for pink diamonds to fetch more than
US$400,000 per carat. However, the sky is the limit when it
comes to Rio Tinto Diamonds' exclusive Signature Stones -
each diamond is so unique that it warrants an individual
price tag.

    To put the rarity of the Argyle Signature Stones into
perspective, Rio Tinto's Argyle mine produces on average 30
million carats of rough diamonds a year. From this annual
production only about 8,000 to 10,000 carats of polished
pink diamonds are produced, of these a mere 65 carats are
deemed suitable for the Pink Diamond Tender.

    Pink diamonds from the Argyle mine are dated at
approximately 1.6 billion years old, but are predicted to
run out by 2018. This forecast has enhanced their
exclusivity and image as a key investment option.

    Despite demand, attendance to the Tender is restricted
to approximately one hundred key clientele from around the
world who personally view the diamonds in a secret location
in Hong Kong, New York or Perth. Due to the high security
required for the Tender, the exact location is not revealed
to bidders until the very last minute. Bids are confidential
and the names of successful bidders and the values achieved
are not disclosed. Those that are successful will be
notified personally in October.

    Bidders expect only the best at Rio Tinto Diamonds'
Argyle Pink Tenders and that is exactly what they will get
in the 2007 Pink Tender. Commenting on the 2007 Tender,
Jean-Marc Lieberherr, General Manager Marketing, Rio Tinto
Diamonds said, "What you see in the Pink Tender are
some of the rarest and most valuable gems in the world.
Each Argyle Signature Stone is unique and exquisite; if it
doesn't have that 'wow' factor, it doesn't make it into the
collection."

    "As far as pink diamonds are concerned, it's not
about size and clarity as it is for white diamonds: colour
intensity is what matters. The darker they are the more
expensive they are, with the rare deep red the ultimate
prize. This year, the 65 Argyle Signature Stones we have
selected are deeper and more vivid than in previous years,
this is an exciting and valuable collection."


    For more information, images and B-roll, please
contact:

     Maryam Ghani
     Phone: [phone]

     Katharine Saunders
     Phone: [phone]
     Email: [e-mail]