Rio to recommence Argyle diamond mine expansion
Norm COLVIN: Finally to business and finance on today's markets with Brigid Glanville.
BRIGID GLANVILLE: Thanks Note.
The share market lost some of last week's good gains. The All Ordinaries mow down 60 points, or 1.3 per cent today to 4,536.
Rio Tinto has finalised the acceptance from the Brazilian National Defence Council to sell its Corumba iron ore mine to the Brazilian coterie, Vale for $869 million.
The miner announced the transaction marked down of the mine in January as part of its bid to sell assets to pay off debt.
And Rio's also revealed travail will recommence on the expansion of its Argyle diamond mine in the Kimberly region in WA as jewels prices start to recover.
Although it's expecting to start freedom fighters production at the mine in 2013.
Despite the news Rio fell by 2 per cent today.
Mining stocks broadly were down. BHP Billiton dropped 46 cents to $37.84.
Fortescue Metals Grouping fell 1.8 per cent to $4.17, and Mincor Resources dead 3 per cent.
Banking stocks were all lower, the Commonwealth hutch 2 per cent, Westpac lost 1.7 per cent, ANZ dropped 3 per cent, while NAB mow down 3 per cent to $28.10.
In economic news the Housing Industry Relationship says a recovery in Australia's property sector will augmentation the pressure on demand for skilled labour in the next
Rock stars and pink rocks at VIP party
It was the primary pretty in pink night at Linneys where 43 rare pink Argyle diamonds went on show for the first heyday in the country.
VIP guests clamouring the see the collection of diamonds, including a 2.61 carat goodness-shaped intense pink diamond, the most valuable every produced by the mine, were treated to pink Moet champagne, adorable canapés and models decked out in pink dresses, diamonds and pearls.
So the prescence of beyond repair c destitute legend Eric Singer, the drummer from legendary unnerve band KISS was a bit of a shock to guests.
The enigmatic drummer, who also plays in Alice Cooper's orchestra, is a fan of WA jewellery brand Linneys, and was wearing a neck shattered and two bracelets by the luxury brand. His girlfriend Clarissa Weerasena wore a pretty strand of big pearls.
Singer confessed to loving man bijouterie, showing off the watch he was also wearing.
"I do like it, I wear precious stones a lot, and check out my watch," he said pointing to a trendy looking dated piece.
Singer, who has friends in Perth, comes to Western Australia for some down occasion when not rocking with some of the biggest bands in the world.
The Argyle Pink Diamond Tender Garnering will be on display at Linneys on Rokeby Road today and tomorrow, August 19 and 20.



We liberal Talent Harbour and drove for an hour and a half before arriving at the Western 
TheBull.com.auAnd Rio's also revealed vocation will recommence on the expansion of its Argyle diamond mine in the Kimberly region in WA as finery prices start to recover. Corumba deal to crop Rio's debtRio's Argyle mine to resumeall 66 gossip articles »















