Rio Tinto’s Diavik diamonds debut in Israel
Rio Tinto has announced that rough diamonds from its Diavik mine in Canada will, for the first time, be available for viewing in Israel.
Whilst the majority of Rio Tinto's diamond production continues to be sold in Antwerp through Supply Agreements with designated Select Diamantaires, Rio Tinto Diamonds offers specific product segments for sale to a wider community of invited companies. A proprietary auction mechanism is used for these “Invitation Sales”.
The decision to conduct viewings in Israel is an endorsement of the strength of the Israel diamond market. Timed to coincide with the Israel International Diamond Week in late August, the viewings will provide an opportunity to see at first hand the Diavik production and Rio Tinto’s new auction platform.
According to Patrick Coppens, General Manager of Sales for Rio Tinto Diamonds, “This is an opportunity to engage with the Israeli diamond industry and in doing so increase the awareness and understanding of the Diavik production and Rio Tinto Diamonds’ sales processes in the Ramat-Gan market.”
Subsequent to the Israel viewings, regular viewings will continue in Antwerp with the auction scheduled to take place the second week of September.
According to Yair Sahar, President of the Israel Diamond Exchange, “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.”
Creative Commons image by: Richard Rutter