28 Jan 2023
DiamondWorld Directory
Home |
Rio Tinto’s diamond sales rise 52% in 2010
Makes improvement with net earnings over loss in 2009
By: Diamond World News Service
Feb 11 2011 6:49PM
Reference: 5732  


Rio Tinto’s financial results for the year 2010, inform a 52 percent increase in the value of its diamond sales (y-o-y), which amounted to $682 million. This unit of the company churned a net earning of $70 million from a loss of $68 million in 2009, which Rio Tinto attributes to an increased demand from emerging stronger markets like China and India and a healthy improvement in rough diamond prices. At the same time, the company is cautious that the improvement can be influenced by consumer demand in the U.S., which still is a significant consumption market.

The company’s overall production across all its mining assets has dipped by 1 percent to 13.843 million carats in 2010, following a lower grade ore at then open pit of the Argyle mine's (which it owns fully) which is facing underground mining operations. The company’s assets include: Argyle mine (full ownership), Diavik mine (60 percent stake), Murowa mine (77.8 percent share), and the value of its operating diamond assets was $1.19 billion at year end 2010.

Follow DiamondWorld on Instagram: @diamondworldnet
Follow DiamondWorld on Twitter: @diamondworldnet
Follow DiamondWorld on Facebook: @diamondworldnet
Have Your Say
* Your view
* Name:
* Email:
* Town/city:
* Country/State:
*  Company:
*  Name:
*  Mobile:
*  Email:
Subscribe for DiamondWorld weekly Newsletter
Search News by City
Recent Issue
News in Pictures
Young Diamantaires
Pictures: 16
Stunning Jewellery from Cannes 2019
Pictures: 24
Sparkly Jewels at Oscars 2019
Pictures: 19
Golden Globes 2018
Pictures: 15
Spotted: Who Wore What (December 2018)
Pictures: 4
India Diamond Week
Pictures: 8
Spotted: Who Wore What (October 2018)
Pictures: 7
Spotted: Who Wore What (September 2018)
Pictures: 6
70th Emmy Awards
Pictures: 11
35th India International Jewellery Show 2018
Pictures: 46
JJS - IJ Jewellers Choice Design Awards 2015 powered by GIA
Views: 32385
Diamond World Expert Hour with Evgeny Agureev, Deputy CEO, ALROSA
Views: 10044
GJEPC Chairman Interview
Views: 28479
IJ Jewellers Choice Design Awards 2012 - Part 1
Views: 39933
Promo for IJ Awards 2012 at NDTV Profit
Views: 57518
IJ Jewellers Choice Design Awards 2012- Part 2
Views: 69127
Couture India 2016 - A Business Boutique Show by IJ Magazine
Views: 22153
Savjibhai Dholakiya, Surat Businessman (Diamond Merchant) speaks in Vibrant 2015
Views: 51325
IJ Jewellers Choice Design Awards 2013 - NDTV Video
Views: 53633
Member of:
Supporter of: