Rio Tinto’s 1Q Diamond Production +41%

Argyle Mine Processing CenterRio Tinto’s diamond production rose 41 percent year on year to 3.518 million carats in the ‎first quarter of 2012 driven by improved output at its Argyle and Diavik mines.‎

Output at the company’s fully owned Argyle mine in Australia grew 52 percent to 2.488 ‎million carats during the quarter. Rio Tinto explained that production during the ‎comparable period in 2011 was relatively low due to heavy rains, while plant shutdowns ‎limited operations in the fourth quarter of 2011. ‎

The company recently started construction of the Argyle underground mine which is ‎expected to be complete by the end of 2013. Argyle is currently mining slightly higher ‎grade ore in the final open cut deposit.

Rio Tinto’s 60 percent share of production at the Diavik mine in Canada grew 19 percent ‎to 963,000 carats due to increased underground operations, improved grades and ‎higher throughput. Harry Winston Diamond Corporation owns the remaining 40 percent ‎stake in Diavik.‎

Rio Tinto owns 78 percent of the Murowa mine in Zimbabwe where production increased ‎‎47 percent to 66,000 carats during the three month period. ‎

Leave a Reply

Your email address will not be published. Required fields are marked *