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Rio Tinto's 4Q Diamond Production +38%
Production Up 22% in 2013
Jan 16, 2014 3:23 AM
By Deena Taylor
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RAPAPORT... Rio Tinto reported that its diamond production grew 38 percent year on year to 4.489 million carats in the fourth quarter that ended on December 31. The surge in production was mainly a result of increased production at the company's fully owned Argyle diamond mine in Australia.
Production at Argyle jumped 57 percent to 3.153 million carats due to an increase in processed ore and higher-grade ore following commissioning of the mine's underground operation in April 2013.
Rio Tinto’s 60 percent share of production from the Diavik mine in Canada increased 9 percent to 1.240 million carats due to an increase in ore processed as the underground mine ramped up to full production, which was partially offset by lower grades.
Rio Tinto’s 78 percent share in production at the Murowa mine in Zimbabwe grew 7 percent to 105,000 carats during the period.
For the full year, Rio Tinto’s diamond production rose 22 percent year on year to 16.027 million carats. Argyle's production grew 35 percent to 11.395 million carats, while the company’s share of Diavik production rose only 0.2 percent to 4.346 million carats and Murowa's production increased 3 percent to 322,000 carats.
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Tags:
Arglye, Deena Taylor, diamond production, diamonds, Diavik, Murowa, Rio Tinto
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