Rio Tinto Weathering The Storm: Successful Antwerp Tender & Continued Production

Rough Market
27/07/2020 16:02

Despite the global pandemic and the challenges it poses on the diamond industry at large, Rio Tinto, owner of the Argyle mine in Australia and partial (60%) owner of the Diavik mine in Canada, has continued to produce and market its rough diamonds. By implementing health and safety measures at the mines, as well as support programs for local communities, Rio Tinto managed to keep the mines operational. Via its Antwerp office, the only diamond hub that remained open for business throughout the crisis, the miner also recently held a Rio Tinto Specials Tender. According to the press release, the tender, which featured a 70.36ct white diamond from Diavik as well as two large white stones from Argyle weighing 42.62ct and 41.70ct respectively, saw solid participation and sale results. Alan Chirgwin, VP of sales and marketing commented: "Market conditions are tough, there are unprecedented supply chain issues,..., to be able to continue to operate in these times demonstrates Rio Tinto's resilience and innovation of our diamond business."