Category: Mining

Rio Tinto Output Slows as Mine Dries Up

Company has ceased production at one underground pipe and portion of open pit.

Stone is only second over 100 carats miner has unearthed this year.

Miner also held back stock from sale due to challenging market.

Like-for-like prices were 16% to 18% lower than at previous sale.

Former operations head took over as interim CEO following Stephen Wetherall’s departure.

Miner cites lack of high-quality supply as reason for nixing sale.

Revenue for third quarter up 11% year on year so far, says owner Burgundy Diamond Mines.

Chief financial officer and vice president of technical services both resign.

Miner has signed agreement on specific terms with government.

Miner gives downbeat outlook following weak demand in past fiscal year.

The September issue looks at the spending trends, gemstones, and styles shaping retail shopping this festive season.