Diavik mine in the Northwest Territories of Canada, 100 per cent owned by Rio Tinto, reported a decrease in its diamond production in Q1, 2023. Diavik deposit, 300 km northeast of Yellowknife, is one of the largest employers in Northwestern Territories, providing 1,100 jobs, and contributing almost 10 per cent of its GDP, as per the Rio Tinto's report.
According to Rio Tinto, the world's second-largest metals and mining corporation, Diavik's lower production was due to the restrictions placed on accessing open pit material.
In Q1 2023, the miner recovered 954,000 carats, registering a four per cent decrease from 991,000 carats in Q1 2022 and down 27 per cent in Q4 2022.
Production for the full year of 2022 was 4.65m carats. In January the miner revised down its 2023 forecast to 3.0m to 3.8m carats.
In the month of February 2023, Rio Tinto had plans to prolong Diavik's life to 2026 and announced a $40m plan to invest in underground mining.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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