Rio Tinto’s diamond business is set to celebrate the 20th anniversary of its Mumbai office, with a tribute to past, present and future partnerships.
Senior management from Rio Tinto’s diamond business reflected on the groundbreaking partnership that started in 1985 when the first influx of diamonds began from the Argyle Diamond Mine in Western Australia.
According to Mr Bruce Cox, Managing Director of Rio Tinto Diamonds, “Rio Tinto’s 20 year history with India contains many milestones and we have always been able to count on the Indian diamond industry for support. Our Mumbai office was opened in 1989 in recognition of the growing importance of India as major trading partner and diamond cutting centre. Argyle Diamonds undertook its initial cutting tests in India, fostered strong customer relationships, and together with our Indian partners we have built innovative marketing programs.”
Mr Cox went on to say that this relationship thrived on mutual respect and understanding and gave the owners of the Argyle Diamond Mine considerable assurance in June 1996 that it could take the lonely path of being the first diamond producer to independently market all of its production.
Other Rio Tinto initiatives undertaken in partnership with the Indian diamond industry include the launch of the Indo Argyle Diamond Council (IADC) in 1993, whereby Argyle worked together with its the Indian diamond industry to create awareness and acceptance of Indian made diamond jewelry in the US, paving the way for direct sales to US retailers, and in the groundbreaking Business Excellence Model (BEM) to drive safety, product assurance, quality management and continuous improvement in the diamond and jewellery manufacturing industries and retail trade in India.
According to Jean-Marc Lieberherr, General Manager for the sales and marketing for all diamonds from Rio Tinto’s diamond mines, “the world is looking to India as a driver of future growth in the diamond industry, be that through their highly innovative and flexible manufacturing sector, or as an end consumer of diamonds. We will continue to work collaboratively with our partners and the industry, including the Gem and Jewellery Export Promotion Council (GJEPC) to create demand for diamonds throughout the distribution pipeline.”
In terms of the future, Rio Tinto is focussed on finalising the construction of its underground mining operations at both its Argyle and Diavik diamond mines and has also been actively exploring for new sources of supply. To this end, over the last five years Rio Tinto has spent more than US$25M on exploration in India. This reconnaissance work has resulted in the discovery of many pipes with Rio Tinto’s Bunder project the first of its kind in India and set to be a world class diamond mine. “We would be delighted to be mining and marketing Indian diamonds in the not-too-distant future” said Mr Cox.
In closing, Mr Cox paid tribute to the important role that Rio Tinto Diamonds’ Indian Representative Office has played in these 20 years of growth and development.
“It is testimony to the stability of our Indian Representative Office, that there have only been four managers in 20 years. Our Mumbai office will continue to play an important role in our sales and marketing strategy with approximately two thirds of our production by value being sold into India. We would like you to join us in celebrating our 20 year milestone and paying tribute to the support, loyalty and innovativeness of the Indian diamond industry over the past two decades.”
