Rio Tinto’s rough diamond production up 2% in H1’2014

In the first half of this year, Rio Tinto’s diamond production culminated into 7.48 million carats, a 2 percent increase on y-o-y basis, when last year it stood at 7.37 million carats. Diamond production in the second quarter of this year stood at 3.83 million carats, indicating a 7 percent drop when compared to the same quarter last year (4.13 million carats), while when compared to the first quarter of 2014, it indicated a 5 percent increase (3.65 million carats).

Rio Tinto chief executive Sam Walsh said "We achieved another half of very strong operating performance, powered by productivity gains across our business.” He also added that, “With a relentless focus on achieving sustainable cost savings while delivering the highest quality growth, we continue to transform Rio Tinto into a stronger, more disciplined business that will consistently deliver strong cash flows and shareholder value."

At its fully owned Argyle mine, carats recovered were four per cent lower than the first half of 2013 reflecting the move from open pit to underground mining and the processing of lower grade tailings in the first quarter of 2014 as underground production ramped up. Diavik’s operational performance in the first half delivered a 15 per cent increase (on y-o-y basis) in carats produced, owing to improvements in mining rates, with all three pipes in full production, as well as processing plant improvements implemented over the past six months. These improvements enabled a strong second quarter of production, 15 per cent higher than the first quarter. First half carats recovered at Murowa were four per cent higher than the first half of 2013 due to improved throughput and processing previously stockpiled material.