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Rio Tinto's 1Q Production +13%
Apr 17, 2014 5:49 AM
By Deena Taylor
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RAPAPORT... Rio Tinto reported that its diamond production grew 13 percent year on year to 3.650 million carats in the first quarter that ended on March 31. The increase was mainly the result of greater production at the company's Argyle diamond mine in Australia.
Production at Argyle rose 24 percent to 2.461 million carats due to higher-grade ore from the underground mine and processing of highly concentrated tailings. Rio Tinto noted that while significant wet weather in January and February temporarily impacted mining and processing operations, the underground project remains on track, with the second crusher due for completion early in the third quarter this year.
Rio Tinto’s 60 percent share of production from the Diavik mine in Canada decreased 4 percent to 1.119 million carats due to a greater proportion of mined and processed ore from the lower grade A154N pipe during the quarter.
Rio Tinto’s 78 percent share in production at the Murowa mine in Zimbabwe decline 12 percent to 69,000 carats during the period as a result of lower grades, slightly lower ore processed and the impact of wet weather on mining operations, which were partially offset by processing previously stockpiled material.
The company expects to produce 16 million carats in 2014.
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Deena Taylor
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