One of the largest mining companies in the world, as well as one of the leading diamond suppliers, says that China and India are beginning to demonstrate hitherto unexpressed demand for colored gems, Bloomberg Businessweek reported.
Rio Tinto Argyle Pink Diamonds business manager Josephine Johnson said that up until 2007, only one or two of the firm's colored diamonds would be purchased by India or China, but that today those markets account for a full 20% of colored diamond consumption. Johnson attributed to the uptick in demand for pink diamonds, which Rio is a major producer of, to an acknowledgement of their relative rarity.
Rio's Argyle mine in western Australia is responsible for supplying about 90% of the global pink diamond supply, which is about 50 carats annually. Argyle will cease operations in eight years' time. Until that time, about 500 pink diamonds will be harvested, making them a wise investment choice, according to Bloomberg.