World's Largest Pink Diamond Mine Announces Closure.
The world's largest pink diamond mine has shut its doors after exhausting its reserves of the expensive gems.
The Argyle mine, in the remote Kimberley region of Western Australia, churned out more than 90 percent of the world's pink diamonds -- sought after for their incredible rarity.
The seam was discovered in 1979 and the Anglo-Australian firm began mining operations there four years later.
It has since produced more than 865 million carats of rough diamonds, including a small but steady stream of prized pink stones.
Argyle employees and indigenous landowners attended a ceremony at the shuttered mine to mark the end of operations.
Over the past two decades, the value of pink diamonds has risen by 500 percent.
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