Rio Tinto 1H Diamond Production +23%

Mining and Exploration
16/07/2015 15:10

Rio Tinto’s total rough diamond output jumped 23% YoY to 4.696 million carats during the three months ending June 30, according an operations review released by the company on Thursday. The company attributed the significant increase in output to the continued ramp-up of production at the Argyle underground mine in Western Australia. Output at the company’s wholly-owned Argyle mine climbed 37% to 3.374 million carats, as the amount of diamond ore processed surged 68% to 1.2 million tons. Rio Tinto’s share of production at the Diavik mine in Canada’s Northwest Territories was flat at 1.285 million carats. Rio Tinto’s share of production at the Murowa mine in Zimbabwe plummeted 56% to 37,000 carats. On June 17, Rio Tinto sold its 78% stake in the mine to junior local partner RioZim, a former Rio Tinto subsidiary spun out from the company in 2004.