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Rio Tinto Production Grows
Jul 17, 2018 8:39 AM
By Rapaport News
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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
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Tags:
Argyle, Diavik, Dominion Diamond Mines, Rapaport News, Rio Tinto
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