Rio Tinto to hold viewing of rough diamonds from its Canadian Diavik mine followed by auctions during the summer edition of the US & International Diamond Week in Israel from August 26 -29, 2013

Mining giant Rio Tinto announced recently that it will hold for the first time in Israel a tender of rough diamonds from its Canadian Diavik mine, at a special booth to be constructed in the Israeli Diamond Exchange Trading Hall, during the summer edition of the US & International Diamond Week in Israel from August 26-29, 2013. The tender will include rough diamonds from the Diavik mine in a range of sizes, but with special emphasis on larger stones, and will be preceded by a special viewing of the rough diamonds, providing an opportunity to the Israeli diamond dealers and manufacturers to see at first hand the quality of the diamonds produced at the Diavik mine.
Rio Tinto in a media release said that, “Its decision to conduct viewings in Israel is an endorsement of the strength of the Israeli diamond market. Timed to coincide with the US & International Diamond Week in Israel, the viewings will provide an opportunity to see at first hand the Diavik production and Rio Tinto’s new auction platform.”
Yair Sahar, President of the Israeli Diamond Exchange (IDE), whose painstaking efforts brought Rio Tinto’s rough tenders to Israel said that, “This is good news. It comes on the heels of Rio Tinto’s announcemet that it will retain its diamond mining business. We certainly hope this will be a first out of many future co-operative initiatives between Rio Tinto Diamonds and the Israeli diamond industry and trade.”
Continuing further IDE President Sahar said, “Rough diamond buying and trading is a huge and ever-growing segment of the diamond manufacturing and trading business in the Ramat Gan Diamond Exchange Complex and on the IDE trading floor. Seeking to create value added services for its members, the IDE board and management is making tremendous efforts to help find and secure new, alternative sources for rough diamonds. The gem diamonds produced by Diavik are well suited to Israeli manufacturers and we are delighted to partner with Rio Tinto in this unique viewing opportunity.”
He further added that the rough diamond viewing and tender was just one of a variety of rough and polished diamond tenders and auctions due to come up during the August edition of the US & International Diamond Week in Israel. “Stay tuned, we will announce these additional events very soon” he promised.
General Manager of Sales for Rio Tinto Diamonds, Patrick Coppens said, “This is a unique opportunity to engage with the Israeli diamond industry and in doing so increase the understanding, awareness and visibility of the unique Diavik production and Rio Tinto Diamonds’ sales processes in the Ramat Gan market.”
Diamond companies interested in participating in the Rio Tinto Diamonds auction and those who wish to schedule a viewing appointment in Ramat Gan can contact the company via email: auctionsales@riotinto.com or call +320-3-3036815.