Rio Tinto’s rough-diamond output dropped in the first nine months of the year to 1.1 million carats amid the closure of the Diavik mine.
The Australia-based miner did not retrieve any rough in the third quarter that ended September 30, it reported last week. Carat recovery fell 68% year on year over the nine-month period.
The Canadian Diavik mine closed in March after reaching the end of its operational life. However, Rio Tinto will continue to process and sell its remaining diamonds through at least the end of 2026.
Diavik was Rio Tinto’s last remaining diamond asset. The company closed its Argyle mine in Australia in 2020 and sold its 75% stake in the Fort à la Corne diamond exploration project in Saskatchewan to joint-venture partner Star Diamond Corporation in 2023, as it shifted its focus to metals and other minerals. Rio Tinto continues to explore for diamonds in Angola.
Image: Diavik mine. (Rio Tinto)
