Rio Tinto today released the production results for third quarter across all its product categories, including for its diamond interests:  Argyle Mines (100%); and Diavik Mine (60%).

Argyle witnessed a 19% dip in carat production y-o-y. The Company explained that in the third quarter of 2017, “production was enhanced by the processing of higher grade alluvial tailings”.

At Argyle, a total of 3,830,000 carats were mined from a total of 1,465,000 tonnes of ore processed in Q3 2018, as compared with 4,757,000 carats recovered from 1,255,000 tonnes of ore processed in Q3 2017. 

For 9M 2018, Argyle processed a total of 4,153,000 tonnes which yielded 10,857,000 carats of diamonds; as compared to 3,511,000 tonnes processed in 9M 2017 from which 10,988,000 carats of diamonds were recovered.

At Diavik too, carats recovered in the third quarter of 2018 were lower as compared to the same period of the previous year – in this case by 9% -- due to lower grades. “The A21 project successfully mined first ore in March 2018 and is expected to reach commercial production during the fourth quarter of 2018. This fourth diamond pipe was officially opened on 20 August 2018,” Rio Tinto added.

At Diavik, a total (on 100% basis) of 670,000 tonnes were processed from which 1,776,000 carats of diamonds were recovered; as compared to 578,000 tonnes of ore processed and 1,961,000 carats of diamonds recovered in the same period of the previous year.

Diavik’s 9M 2018 production (on 100% basis) amounted to 5,467,000 carats of diamonds from 1,879,000 tonnes processed; as compared to 5,719,000 carats of diamonds recovered from processing 1,664,000 tonnes of ore in 9M 2017.

Rio Tinto’s diamond production guidance for 2018 is between 17 and 20 million carats.