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05/11/2024 08:53Burgundy Diamond Mines reported significant developments in its third quarter of 2024, including the recovery of its 100 millionth carat at the Ekati mine after 26 years of production. The company mined 0.80 million tonnes of ore and processed 1.12 million tonnes, producing 1.24 million carats. Despite a decrease in recovery to 2023, sales reached 1.42 million carats, generating a total revenue of 118 million dollars at an average price of 83 dollars per carat.
24/09/2024 20:56Rio Tinto is offering voluntary early termination to workers at its Diavik diamond mine as part of cost-saving measures and with the mine's planned closure in 2026 ahead. The initiative aims to address challenges in the diamond industry while downsizing its workforce, though some employees will stay until 2029 to assist with the closure process. Despite industry difficulties, Rio Tinto remains optimistic about strong demand for Canadian diamonds and is committed to safe production, workforce obligations, and responsible closure of the mine. Diavik currently employs over 1,200 workers.
26/07/2024 17:00Mining company Burgundy Diamond Mines reports a recovery of 1.22 million carats during quarter 2 of 2024. This is a decrease by 10% in comparison with the same quarter previous year, which is in line with the decrease in the total volume of tonnes the company has processed (Q2-2023: 1.36 million). Burgundy sold 1.03 million carats and the sales happened over three sales events, including one fancy sale. The mining company achieved significant progress in several key areas this quarter.
03/07/2024 11:33Rio Tinto has completed a 3.5 megawatt (MW) solar power plant at its Diavik Diamond Mine in Canada’s Northwest Territories, the largest off-grid solar facility in Canada’s territories. Featuring 6,620 panels, the plant generates 4.2 million kilowatt-hours annually, cutting diesel use by one million liters per year and cutting greenhouse gas (GHG) emissions by 2,900 tonnes of CO2 equivalent—comparable to removing 630 cars from the road.
08/05/2023 14:25Rio Tinto’s Diavik diamond mine in the Northwest Territories to be the recipients of this year’s Towards Sustainable Mining (TSM) Excellence Awards.
The TSM Excellence Awards were introduced in 2014 and comprise two categories: the TSM Environmental Excellence Award and the TSM Community Engagement Excellence Award. For mining companies to qualify for these awards, they must be actively applying TSM principles.
27/02/2023 10:25Rio Tinto has made $40 million investment in the first phase of underground mining below the existing A21 open pit at its Diavik Diamond Mine which started commercial production in 2018 in the Northwest Territories of Canada. The Diavik mine, Canada’s largest mine produces on the order of 6.5 million carats (+/-) of rough diamonds per year and has unearthed more than 100 million carats since its opening.
27/01/2023 12:17Rio Tinto, which owns 100% of the Diavik Diamond Mine in the Northwest Territories in Canada, has lowered Diavik’s 2023 production forecast – from 4.5 to 5 million carats to 3 to 3.8 million carats.
According to IDEX Online, Rio Tinto “gave no explanation for the lower forecast in its fourth quarter production results.” In 2022, actual production was on target – 4.7 million carats.
The Diavik diamond mine opened in 2003 and is scheduled to close in 2025.Source: IDEX | Israeli Diamond
Photo Credit: Rio Tinto
05/12/2022 13:05A one-of-a-kind yellow and pink diamond ring showcasing the finest gems from Rio Tinto’s diamond mines has been unveiled in Sydney. Titled the Diavik Midnight SunTM, this statement piece is a powerful symbol of the union of two of the world’s most coveted jewels: yellow diamonds from Rio Tinto’s Diavik diamond mine in sub-Arctic Canada, and Argyle Pink DiamondsTM from the iconic mine in the remote East Kimberley region of Western Australia.
03/06/2022 10:561,5 years after the closing of the famous Argyle mine in Western Australia, which produced the vast majority of the world’s fancy pink diamonds, Rio Tinto announces a partner program that will continue the legacy of the Argyle Pink Diamonds brand, releasing the names of the first two “Icon Partners”, John Calleija and Joh Glajz, both having worked with Argyle’s precious pink diamonds for decades.
24/02/2022 11:54Amid reduced supply, Rio Tinto’s rough diamond sales rose by 9% to $501 million in 2021. Strong diamond jewelry sales and thus growing strong prices bolstered these results.
“We saw a recovery in diamond prices following a pandemic-related buildup of demand and low inventory levels”, Rio Tinto stated.
21/12/2021 11:29Australian mining company Rio Tinto announced they appointed Angela Bigg as president and chief operating officer of the Diavik diamond mine. She will be the first female to lead the mine and its 1,100 employees. She joined the Diavik team in November 2017 as vice president, Finance. Angela Bigg will succeed Richard Storrie, who left the company after 26 years.
26/02/2020 17:51Rio Tinto's diamond division recorded a $21 million loss for FT 2019 as its revenues fell 11% to $619 million from $695 million a year earlier, according to the company's Annual Results released on Wednesday. Earnings before interest, tax, depreciation and amortization (EBITDA) tumbled by 50% to $151 million from $301 million in 2018.