RapNet


Rapaport News

 

Mining

 
Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Rio Tinto Production Grows

Argyle and Diavik mines contribute to 7% increase in second quarter.
Jul 17, 2018 8:39 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Diamond production at Rio Tinto rose 7% year on year in the second quarter of 2018, driven by an increase in output from its Argyle mine.

Production came to 4.6 million carats for the three months ending June 30, the company said Tuesday. The Argyle asset in Australia yielded 3.5 million carats, an increase of 8% over the same period last year. That growth was due to a rise in the amount of ore processed.

Rio Tinto’s share of production at Diavik rose 3% to 1.2 million carats. The miner owns a 60% stake in the Canadian facility, with Dominion Diamond Mines holding the remainder. 

Development of Diavik’s A21, a fourth pipe located just south of the mine’s existing operations, is operating ahead of schedule, the company said. The company extracted the first ore in March, and expects the project to reach full production capacity in the fourth quarter.

Output at Argyle jumped 13% in the first half of the year, reaching 7 million carats, while production at Diavik fell 2% to 2.2 million carats for the period, mainly reflecting lower first-quarter production. Total yield for both mines climbed 9% to 9.2 million carats for the six months.

The miner expects to produce 17 million to 20 million carats for the year, compared to 21.6 million carats last year.

Image: Diavik mine processing plant. Credit: Rio Tinto
Tags: Argyle, Diavik, Dominion Diamond Mines, Rapaport News, Rio Tinto
Similar Articles
Rio Tinto Argyle mineRio Tinto Lowers Outlook as Argyle Closure Looms
Jan 19, 2020
Rio Tinto expects a decline in diamond production in 2020 as it reduces output...
Alrosa Names New Director of Severalmaz
Alrosa Revenue Rises Amid Market Rebound
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us