Rio Tinto’s diamond output fell 14% to 14.67 million carats in 2020 mainly due to the closure of its flagship Argyle diamond mine in Australia.
Argyle’s annual output slid 16% to 10.94 million carats. “On 3 November, we announced the final day of mining at Argyle after 37 years of operations. The closure process is expected to take five years to decommission and dismantle the mine and undertake rehabilitation, followed by a further period of monitoring,” Rio Tinto stated.
The penultimate Argyle Pink Diamonds tender continued its trajectory of double digit price growth and a record number of participants with successful bidders from eight countries.
At Diavik in Canada, the 3.73 million carats recovered in 2020 were 7% lower than 2019, with a 10% grade reduction partially offset by an increase in ore tonnes processed.
Rio Tinto’s Q4 diamond output declined 33% year-on-year to 2.8 million carats.
Rio Tinto expects diamond production in 2021 to range between 3 million carats and 3.8 million carats.