Rio Tinto’s rough diamond production up 47% in Q3

Rio Tinto’s rough diamond production in the second quarter of 2013 was up 47 percent (on y-o-y basis) to 4.14 million carats, reports say. The company had announced in June that it intended to retain its diamond business, after conducting a review on the unit, reports say.

In the said second quarter, the mining company’s rough diamond production from its wholly owned Argyle mine increased by 87 percent (on y-o-y basis) to 3.13 million carats. There were increased tonnes processed and higher grades at the mine.

From its 60 percent stake owned in the Diavik mine, rough diamond production dropped 13 percent (on y-o-y basis) to 936,000 carats, which the company attributes to lower grades of ore mined in the three months. The company also noted that the transition to a fully underground mine at Diavik has been completed and production from all three kimberlite pipes is currently underway.

Diamond production in the second quarter of 2013, from Rio Tinto’s 78 percent stake owned in Murowa mine in Zimbabwe rose 21 percent (on y-o-y basis) to 69,000 carats, reports suggest.

Rio Tinto’s diamond production in the first six months of 2013 stood at 7.37 million carats, a rise of 20 percent (on y-o-y basis).