Category: Mining

Rio Tinto Production to Slump as Diavik Dries Up

Output will fall to between 3 million and 3.8 million carats next year, company predicts.

Production at Williamson unlikely to resume before mid-2023.

Funds will enable Newfield Resources to increase production at Tongo site.

Miner expects revenue of up to $230 million in 2023.

Company still faces hefty financial challenges after two-and-a-half-year closure.

Miner notes weakening of market for its Zambian gems.

Managing director Peter Ravenscroft will leave with immediate effect.

Ken MacNeill will exit Canada-based miner on December 31.

Manufacturing partnership for large stones to continue through December 2032.

Bruce Cleaver reflects on the changes that took effect in the six years he headed the diamond company.

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