The Argyle Mine has been an active open pit mine for over 25 years, but grew into an underground mine after a 2001 proposal to expand operations to extend the life of the mine.
The open pit will close this year (2012), and the underground pit will be fully functional within 2013, until approximately 2019.
Since production in the Argyle Mine began in 1985, over 760 million carats of diamonds have been produced.
Most diamonds drawn from the mine are less than 0.10 carats, however the largest rough diamond from the Argyle Diamond Mine, weighed in at a whopping 42.6 carats (found in 1991).
The latest news and information provided directly from Rio Tinto, owner of the Argyle Diamond Mine in Western Australia.
The Argyle Diamond Mine provides 90-95 % of the world's pink diamonds, offering the vast majority of the worldwide supply of a very rare and valuable commodity. With the mine's planned closure in 2019, this already rare supply will go scarce.
The demand for Argyle pinks has increased dramatically thanks to the increased economic growth of India and China in addition to the already existing demands of the United States.
In more than 30 years of mining at the Argyle Mine, no other pink diamond sources have been found anywhere in the world, and none are likely, thanks to the exorbitant costs involved in new mining.
Argyle Pink diamonds are accompanied with either Gemological Institute of America (GIA) Reports and/or Certificates of Authenticity from Rio Tinto, and all Argyle Pinks cut and polished after 2005 are laser inscribed with the Argyle logo (as shown on the GIA Report), or as evidenced by the Certificate of Authenticity.