Rio Tinto reported notable results in its diamond operations for both Q4 and the full year of 2024. The company recorded an 18% year-on-year increase in Q4 diamond production at its Diavik mine, reaching 775,000 carats. This recovery follows operational disruptions caused by a subsidence event earlier in the year, with production bolstered by improved underground ore deliveries.
For the full year 2024, Diavik produced 2.76 million carats, reflecting a 17% decline compared to 2023. The reduction was primarily attributed to the earlier challenges, although the latter part of the year showed strong recovery momentum. A significant achievement during the year was the safe completion of Phase 1 of the A21 underground mine development. Commercial production commenced in October 2024, enhancing the mine’s operational capacity and providing a critical boost to diamond output.