Rio Tinto Tightens Rough Output Projection

RAPAPORT… Rio Tinto tightened its diamond-production outlook
for the year to between 19 million and 22 million carats, despite reporting a year-on-year
increase in output.




The miner’s previous guidance for 2017 was
19 million to 24 million carats, it said in a review of its third-quarter
operations.



Rio Tinto’s rough-diamond production jumped 34% to 5.9 million carats for the quarter. Output at its Argyle mine in Western Australia rose 36% to 4.8 million carats due to the processing of higher-grade alluvial tailings. At the Diavik mine in Canada’s Northwest
Territories, higher grades led to production climbing 27% to 1.2
million carats. Development of the A21 pipe, an extension to the Diavik project, remains on schedule, the miner said.



The miner’s
total diamond production jumped 8% year on year to 14.4 million carats in the first nine months.