The Argyle Group was set up to capitalize on the rising demand and increasing scarcity of Argyle Pink Diamonds. With the Argyle Mine due to close in 2020 we are very aware of the impact this will have on the future value of these precious stones, not least because the Argyle mine is responsible for over 90% of the world’s total production of pink diamonds.
One thing that’s not always talked about however, is how the closure of the Argyle Mine will impact the traditional land owners and local natives of the Kimberley region. Aboriginal history and activity in the East Kimberley region where the mine is located, dates back more than 40,000 years. Up until now, the local aboriginal tribes have benefited greatly from the added prosperity the mine has brought to the region. In 2005 the Indigenous Land Use Agreement and Participation Agreement between Argyle and traditional land owners promised long-term economic benefits to Aboriginal communities in the region whilst also protecting Aboriginal culture and environmental interests throughout the mines lifetime.
Due to the ever-declining profitability of the mine however, the future is looking worryingly bleak for local settlers. When the Land Agreement and Participation Agreement was originally struck Aboriginal employment in the area rose from around 7 per cent to nearly 25 per cent. The deal also helped secure more than 100 apprenticeships at the mine as well as massive funding and investment in the local economy. The closure of the mine could spell an end to future funding, and the sustainability fund which was set up to fund future commodities after the mine closes in 2021 is likely to collapse.
Here at the Argyle Group we are very keen to make sure that these communities are supported long after the mine ceases operation. Due to our close association with the Argyle Mine, we feel very strongly about the welfare of its traditional land owners which is why we are looking to set up a foundation for the people of the Kimberley region. Our ambition is to give a proportion of the profits we make through the Argyle Group back to the Gija and Mirriwung tribes who live in the area so that the economy can continue to prosper long into the future. For more information on the Kimberley foundation project and how you can help support us, please visit www.theargylegroup.co.uk
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It has been a pleasure working with Rav & his Group and I am excited about how far this company can grow over the next 5 years. A lot to look forward to.
Not much to complain about regarding this young man, I have followed his movements since 2012 and I am happy to see him pushing and progressing slowly towards his goals. Good luck to you Rav!
A gentleman in all aspects, Rav has treated me and my portfolio with the utter most respect. How many collectors can boast a rare gem portfolio that consists of a Red diamond?!! Rav has knowledge, confidence and reach, making him a very capable young man.
Happy with the way things are going, a little over 18 months in to my investment and no reason for complaints. I like the vision, the strategy and the enthusiasm that Rav brings to the table, making me feel confident about the future ahead.
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