|
|
Rio Tinto Diamond Sales Rise
Aug 3, 2016 5:53 AM
By Rapaport News
|
|
|
RAPAPORT... Rio
Tinto’s revenue from diamonds increased in the first half of 2016 but earnings
slumped amid a weaker Asian market and mixed trends in rough prices.
Rough sales
climbed 3.3 percent to $342 million, while net earnings slid 29 percent to $22
million, the miner reported.
“The U.S.
consumer market was steady, however demand from India and China continued to be
slower due to local market factors,” Rio Tinto said. “Rough diamond prices varied
across product segments.”
Production
increased 2.1 percent to 9 million carats due to a continued ramp-up of
underground operations at the Argyle mine in Australia, which outweighed lower
grades at the Diavik mine in Canada. Rio Tinto expects
to produce 18 to 21 million carats in 2016, down from an initial forecast
of 21 million carats.
|
|
|
|
|
|
|
|
|
|
Tags:
Argyle, asia, Australia, Canada, China, Diavik, India, mining, Production, Rapaport News, Rio Tinto, Rio Tinto Diamonds, rough prices, rough sales, u.s.
|
|
|
|
|
|
|
|
|
|
|