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Rio Argyle mine 150
Lower Grades at Argyle Hit Rio Tinto Output
Rio Tinto’s diamond production dropped in the third quarter amid lower mining grades at its Argyle deposit, the company reported Friday.Output at the Australian mine fell 10% year on year to 3.2 million carats in the...
Mining Oct 18, 2020 Rapaport News
Dominion Ekati 150
Dominion to Sell Ekati Mine for $126M
Dominion Diamond Mines has sold its Ekati mine in Canada to affiliates of its owner, the Washington Companies, for $126 million amid struggles with mounting debt.The offer came from Canadian Diamond Holdings and...
Mining Sep 17, 2020 Rapaport News
Mining Ekati 150
Mining Sell-Off Highlights Sector’s Woes
Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
Mining Aug 06, 2020 Leah Meirovich
Rio Tinto
Losses Deepen at Rio Tinto’s Diamond Unit
Weak rough demand and a devaluation of assets pushed Rio Tinto’s diamond division further into the red in the first half of the year, the miner reported Wednesday.The unit recorded a net loss of $40 million...
Mining Jul 29, 2020 Rapaport News
Rio Tinto
Rio Tinto Grants Rough Buyers Flexibility
Rio Tinto has given customers flexibility with their rough purchases since the Covid-19 crisis began, allowing them to buy only what they needed.“We provided full flexibility for all our customers and...
Mining Jul 28, 2020 Leah Meirovich
Rio Tinto
Rio Tinto Output Slides in First Half
Diamond production at Rio Tinto dropped 7% year on year in the first half of 2020 as the miner recovered lower-grade ore at its Diavik mine in Canada.The company’s share of production at the Argyle and Diavik mines came to 7.7...
Mining Jul 19, 2020 Rapaport News
Dominion
Court Orders Release of Dominion’s Diamonds
A Canadian court has ordered the Rio Tinto subsidiary that manages the Diavik mine to release inventory belonging to Dominion Diamond Mines it had been holding as a guarantee for missed payments.Diavik Diamond Mines (DDMI) has...
Mining May 11, 2020 Rapaport News
Dominion insolvency
Dominion Insolvency ‘Puts Diavik Mine at Risk’
A subsidiary of Rio Tinto has voiced concern over the continuity of the Diavik mine after its joint-venture partner in the project was granted protection from creditors. The insolvency order obtained in late April by Dominion...
Mining May 03, 2020 Rapaport News
Dominion
Dominion Asks for More Time to Repay Debts
Dominion Diamond Mines has requested an extension to the insolvency protection it was awarded last week, stating that it needs more time to restructure its finances or find new investment.The miner asked the Alberta Court of the...
Mining Apr 28, 2020 Rapaport News
Rio Tinto
Rio Tinto Stands By Production Forecast
Rio Tinto has maintained its diamond-production outlook for 2020 despite market shutdowns due to the coronavirus pandemic.The miner expects to produce between 12 million to 14 million carats from its Argyle mine in Australia and its...
Mining Apr 19, 2020 Rapaport News
Rio Tinto
Govt. Allows Mining at Argyle to Continue
Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic.The company has received full approval from the Western Australian state government to continue its production operations prior...
Mining Apr 06, 2020 Leah Meirovich
Miners coronavirus
Production Continues as Miners Fight Virus Impact
Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
Mining Mar 19, 2020 Leah Meirovich
Argyle pinks
Rio Tinto Diamond Revenue Drops in 2019
Revenue from Rio Tinto’s diamond division slid 11% to $619 million in 2019 as prices for rough diamonds weakened, the miner reported Wednesday. The diamond unit recorded a net loss of $21 million, compared with...
Mining Feb 26, 2020 Rapaport News
Rio Tinto Argyle mine
Rio Tinto Lowers Outlook as Argyle Closure Looms
Rio Tinto expects a decline in diamond production in 2020 as it reduces output at its Argyle mine in Australia, which is set to close in the fourth quarter.The company will produce between 12 million and 14 million carats for the year,...
Mining Jan 19, 2020 Rapaport News
Rio Tinto
Rio Tinto Incurs Loss in Diamond Division
Weak rough prices pushed Rio Tinto’s diamond unit into thered in the first half of the year, the miner reported Thursday. The division recorded a net loss of $5 million for the sixmonths ending June...
Mining Aug 01, 2019 Rapaport News
Argyle mine 600
Rio Tinto Output Falls in 1H
Diamond production at Rio Tinto dropped 10% year on year inthe first half of 2019, as the miner recovered lower-grade ore at its Argylemine in Australia. The company’s share of production at the Argyle and Diavik mines came...
Mining Jul 16, 2019 Rapaport News
Rio Tinto
Rio Tinto’s Diamond Sales Slip in 2018
Revenue from Rio Tinto’s diamond division slid 1.6% to $695million in 2018, the miner reported Wednesday. The diamond unit’s profit rose 28% to $118 million, whileearnings before interest, tax, depreciation and amortization (EBITDA)...
Mining Feb 27, 2019 Rapaport News
Composite Top 10 Diamonds 150
The Biggest and Priciest Diamonds of 2018
As the year comes to a close, Rapaport News takes alook back at the largest rough stones miners unearthed in 2018, and thediamonds that fetched the highest prices at auction.Colossal findsThe 910-carat Lesotho Legend, which Gem...
Polished Markets Dec 27, 2018 Rapaport News
Dominion 553 carat yellow 150
Dominion Recovers 553ct. Yellow Diamond
Dominion Diamond Mines has unearthed the largest knowngem-quality diamond found in North America, it said last week. The company recovered the 552.74-carat yellow diamond in Octoberat its Diavik mine in Canada’s Northwest Territories. It beats...
Mining Dec 16, 2018 Rapaport News
Argyle glove 200
Rio Tinto Diamond Revenue Declines
Diamond sales at Rio Tinto fell 5% to $323 million in thefirst half of the year, the miner reported Wednesday. Net profit for the division nearly tripled to $55 millionfrom $19 million a year ago. Production increased...
Mining Aug 01, 2018 Rapaport News
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