Rio's Master Diamond Pink Diamond Craftsman at Argyle Richard Kam joins Burgundy as its Master Craftsman

Miner joins investors in pink diamonds

Among the investors who claim to have acquired one of the hero stones from the final auction is ASX-listed Burgundy Diamond Mines (ASX:BDM).

In an ASX release BDM said it picked up the 1.79ct fancy purplish pink Argyle Stella, one of five hero stones from the collection, which according to Rio Tinto was sold in the Argyle tender to a buyer from Singapore.

Burgundy says the diamond “is expected to generate multiples of longer-term value for the company’s shareholders by its innovative use as the centrepiece of the Burgundy Fancy Colour diamond brand which will be launched in the coming months.”

The diamond is one of the last creations of Rio craftsman Richard How Kim Kam, who has hopped over to Burgundy as its master craftsman.

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The company is planning to resurrect the Ellendale diamond mine in WA’s north, famous for its production of rare fancy yellow diamonds.

But it plans to make the Argyle Stella the centrepiece of its Paris-based luxury brand, in the knowledge its value is likely to soar.

“Acquiring this ‘hero’ stone represents an exciting step on our journey to creating a visionary ultra luxury brand that will transform the Fancy Colour diamond niche sector,” BDM CEO Peter Ravenscroft said.

“This is a highly strategic purchase of one of the rarest diamonds in history, which we liken to buying ‘one of the last Bugattis’.

“Less than a dozen stones like this have ever been produced, and there will never be another one.

“We have plans to leverage the beauty and rarity of this diamond, and use it as a foundation stone in building a brand at the pinnacle of ultra luxury, housed in our subsidiary company that we are establishing in Paris.

“We are looking forward to being able to talk more about this brand in the very near future, and expanding on the value that Argyle Stella will bring to Burgundy shareholders in the longer term.”