Advanced Search

Rio Tinto Plans Lower 2018 Production

Jan 21, 2018 3:36 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... Rio Tinto expects diamond production of between 17 million and 20 million carats in 2018, representing a decrease in output compared to last year. The company did not explain the expected drop.

Diamond production in 2017 grew 21% to 21.6 million carats, driven by a 23% jump in output at its Argyle mine in Australia. The company also owns a 60% stake in the Diavik mine in Canada, where production rose 12% during the year, Rio Tinto reported last week.   

During the fourth quarter, Argyle production jumped 71% year on year to 6.1 million carats, due to additional processing of higher-grade alluvial tailings. Diavik yielded 1.1 million carats for the quarter, a 7% year-on-year rise, driven by improved recovery grades.

Image: Rio Tinto
Tags: alluvial, Argyle, Argyle mine, diamond, Diavik, Dominion Diamond Corporation, J-S Jacques, mining, Rapaport News, Rio Tinto
Similar Articles
De Beers sight 150De Beers Sales Rise After Diwali Break
Dec 18, 2018
De Beers sold $540 million of rough diamonds in its December cycle, buoyed by the return of Indian manufacturers
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.