Jul 17, 2020

Rio Tinto’s Q2 Diamond Output -5% To 4.23 Million Carats

Rio Tinto’s Q2 2020 diamond production declined 5% to 4.23 million carats on a year-on-year basis, but rose 23% compared with Q1 2020.

At the Argyle mine in Australia, carat production was 1% lower, at 3.27 million carats, than the same period of 2019 as a result of an 11% reduction in recovered grade, partially offset by higher tonnes mined and processed.

Preparation continues for the safe cessation of Argyle operations before the end of 2020 and closure activities commencing in 2021, Rio Tinto added.

At Diavik in Canada, 963,000 carats recovered in the second quarter of 2020 were 19% lower than the second quarter of 2019 due to lower processed tonnes and lower grade in the underground.

“We continue to execute our value over volume strategy to match market demand during a challenging period for the industry,” the company noted.

Caption: Argyle underground entrance, Australia.

Credit: ©️ Rio Tinto