Rio Tinto Putting Rough From Diavik on View in Israel

(IDEX Online News) – Rio Tinto has decided to make rough diamonds from its Diavik mine in Canada available for viewing in Israel for the first time.

While most of Rio Tinto's diamonds continue to be sold in Antwerp through Supply Agreements with designated Select Diamantaires, Rio Tinto Diamonds is offering specific rough goods for sale to a wider number of invited companies. A proprietary auction mechanism is used for such Invitation Sales.

“The decision to conduct viewings in Israel is an endorsement of the strength of the Israel diamond market,” the miner said in a statement. “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.”

Patrick Coppens, General Manager of Sales for Rio Tinto Diamonds, said: “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.”

Following the Israel viewings, regular viewings will continue in Antwerp with the auction scheduled to take place in the second week of September.

Israel Diamond Exchange President Yair Sahar said: “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.”