Global mining giant Rio Tinto has reported a decline in diamond production during the third quarter of 2024. The company’s Diavik mine in Canada experienced a significant setback due to a subsidence event in July, which disrupted underground ore deliveries.<\/p>\n
As a result, Q3 rough production at Diavik plummeted by 28% to 542,000 carats compared to the same period last year. However, there’s a glimmer of hope on the horizon. The mine has successfully completed the development and construction of Phase 1 of the A21 underground, and commercial production has commenced.<\/p>\n
Diamond production at Diavik plummeted by 26% year-over-year, reaching 1.98 million carats in the first nine months of 2024 compared to 2.68 million carats in the same period the previous year.<\/p>\n
Despite the challenges, Rio Tinto remains optimistic. The company expects to fully mine the A21 underground before closure in 2026. Additionally, in October, they launched the 2024 Beyond RareTM<\/sup> Tender, showcasing a unique collection of rare pink, red, violet, and yellow diamonds.<\/p>\n The decline in diamond production is a temporary setback for Rio Tinto, as the company continues to invest in its mining operations and explore new opportunities in the gemstone market.<\/p>\n","protected":false},"excerpt":{"rendered":" Global mining giant Rio Tinto has reported a decline in diamond production during the third quarter of 2024. The company’s Diavik mine in Canada experienced a significant setback due to a subsidence event in July, which disrupted underground ore deliveries. As a result, Q3 rough production at Diavik plummeted by 28% to 542,000 carats compared…<\/p>\n","protected":false},"author":1,"featured_media":28247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-28246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n