Rio Tinto Diamond has announced that it recovered 3.4 mln carats for the three months ending March 31, a drop of 10% year on year in the first quarter. According to the company, the Argyle mine yielded 2.6 mln carats, a 7% decrease compared to the same period last year. Rio Tinto has been reducing its output from the site in preparation for its closure in the fourth quarter of the year.
Rio Tinto’s share of production at Diavik mine fell 15% to 857,000 carats, due to the lower grades recovered at the deposit. Rio Tinto owns 60% stake of the Canadian Diavik mine.
Rio Tinto Diamond expects to produce between 12mln to 14 mln carats from its Argyle mine in Australia and its Diavik deposit in Canada during the year.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
