Rio Tinto\u2019s consolidated sales revenue from diamonds in 2020 dropped 26% to $459 million compared with $619 million in 2019, and was 34% below 2018\u2019s revenue of $695 million. Realised diamond prices declined by 21% on a weighted average basis, the company added.<\/p>\n\n\n\n
Diamond production was 14% lower than 2019, attributable to lower carats recovered at Diavik, where a 10% reduction in grade was partially offset by an increase in tonnes processed, and the closure of Argyle, as planned, on 3rd November, Rio noted.<\/p>\n\n\n\n
\u201cIn diamonds, a heavy decline in spending on jewellery impacted underlying demand, while lockdowns in India\u2019s manufacturing centres restricted the volume of rough diamonds purchased from miners,\u201d the company stated.<\/p>\n\n\n\n
Net earnings from diamonds stood at $9 million for 2020, compared with a loss of $21 million in 2019, and earnings of $118 million in 2018.<\/p>\n","protected":false},"excerpt":{"rendered":"
Rio Tinto\u2019s consolidated sales revenue from diamonds in 2020 dropped 26% to $459 million compared with $619 million in 2019, and was 34% below 2018\u2019s revenue of $695 million. Realised diamond prices declined by 21% on a weighted average basis, the company added. Diamond production was 14% lower than 2019, attributable to lower carats recovered…<\/p>\n","protected":false},"author":1,"featured_media":5637,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-5636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n