Paragon International Wealth Management Inc.

The global mining giant,  Rio Tinto , which owns and operates the Argyle diamond mine in western Australia’s East Kimberley region, has reported a striking drop in the mine’s resources at the end of 2016 and recently announced it is reviewing its previous plans to expand the mine. Wealth management specialists say this will have a drastic impact on the value of Argyle diamonds moving forward.     Rio Tinto recently released an updated  reserves and resources statement  for the Argyle mine, a statement that described a drop in mine production by two-thirds, from 44 million tonnes of ore at the end of 2015 to 15 million tonnes at the end of 2016. The Argyle mine is considered to be extremely valuable to the diamond market. It’s been in operation since 1983 and has produced more than 800 million carats of rough diamonds. It’s also one of the world’s largest  sources of diamonds  and largest sources of natural colored diamonds, including the coveted  Pink Argyle diamond

Paragon International Wealth Management Inc.  expects an upcoming April diamond auction to be a landmark event as the most valuable polished diamond in history is set to make an appearance. The diamond auction will take place on  April 4th  at the Sotheby's Hong Kong Magnificent Jewels and Jadeite sale, where "The Pink Star", a 59.60 carat diamond that is estimated to fetch  $60 million , will be presented. The Pink Star was initially mined by De Beers in 1999 in  Botswana . 132.5 carats as a rough diamond, The Pink Star was cut and polished over a period of two years into a remarkably large, oval-cut diamond. The Pink Star is graded as a Type IIa, a rarity for any pink diamond, and is the largest Internally Flawless Fancy Vivid Pink diamond ever graded by the Gemological Institute of America.  This will not be the first time The Pink Star has seen the auction floor. In  November 2013 , The Pink Star was sold for  $83.2 million