Australia's Rio Tinto concluded diamond mining operations at the legendary Argyle mine in the remote east Kimberley region of Western Australia after 37 years. The mine, which produced some of the world's most iconic diamonds, had exhausted its economic reserves.

Global diamond production increased twofold after the Argyle mine commenced operations in 1983. As one of the largest producers of natural colour diamonds, the mine has since yielded more than 865 million carats of rough, bearing such hues as white, champagne, cognac, blue and violet. Since then, it has become the world’s largest producer of fancy colour diamonds and virtually the sole source of a very small but consistent source of rare pink diamonds.

The closure process is expected to take some five years. It involves decommissioning and dismantling the mine and undertaking rehabilitation, followed by a further period of monitoring. Argyle will employ a smaller workforce post final mining and diamond production activities.

Arnaud Soirat, Rio Tinto’s chief executive of Copper & Diamonds, remarked, “Fifty years ago, there were very few people who believed there were diamonds in Australia – even fewer could have foreseen how the Argyle story would unfold. To arrive at this final chapter has required vision, courage and determination to overcome significant challenges to enter new territory in diamond exploration, mining and marketing.

“Today Argyle’s influence stretches into many spheres and over many continents and I am very proud to acknowledge all those people who have contributed to the discovery and development of the mine and the production of some of the finest diamonds the world has ever seen.”