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Rio Tinto's 1Q Diamond Production +14%

Apr 21, 2015 2:55 AM   By Deena Taylor
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RAPAPORT... Rio Tinto reported that its diamond production grew 14 percent year on year to 4.155 ‎million carats in the first quarter that ended on March 31. The increase resulted mainly from a ramp-up in production at the company's Argyle diamond mine in Australia.

Production at Argyle grew 31 percent to 3.217 ‎million carats. But even more striking, Rio Tinto registered a 77 percent improvement in Argyle's production as compared with the previous quarter due to plant modifications taking affect at both of the mine's  underground crushers.

Rio Tinto’s 60 percent share of the Diavik mine in Canada reported production decreased 20 ‎percent to 899,000 carats. The decline was due to lower ore availability in the mining area as well as crusher plant upgrades, which were completed during the quarter.

Rio Tinto’s 78 percent share in the Murowa mine in Zimbabwe experienced a production decline of 42 ‎percent to 40,000 carats as the company implemented a planned plant shutdown in order to reconfigure the processing plant. Rio Tinto also made a decision to reduce production at the mine, pending confirmation that a new 15 percent export tax did not apply to Murowe.

The company expects to produce 20 million carats in 2015.
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