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Rio Tinto Tightens Rough Output Projection

Oct 18, 2017 5:43 AM   By Rapaport News
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RAPAPORT... 
Rio Tinto tightened its diamond-production outlook for the year to between 19 million and 22 million carats, despite reporting a year-on-year increase in output.

The miner’s previous guidance for 2017 was 19 million to 24 million carats, it said in a review of its third-quarter operations.

Rio Tinto’s rough-diamond production jumped 34% to 5.9 million carats for the quarter. Output at its Argyle mine in Western Australia rose 36% to 4.8 million carats due to the processing of higher-grade alluvial tailings. At the Diavik mine in Canada’s Northwest Territories, higher grades led to production climbing 27% to 1.2 million carats. Development of the A21 pipe, an extension to the Diavik project, remains on schedule, the miner said.

The miner’s total diamond production jumped 8% year on year to 14.4 million carats in the first nine months.
Tags: A21 pipe, Argyle, Canada, Diavik, mining, northwest territories, Rapaport News, Rio Tinto, rough, Western Australia
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