Rio Tinto’s diamond unit picked up pace in the first half of year 2010, ending June 30, churning a 77 percent increase (y-o-y) in gross sales revenues to $326 million. Net earnings increased to $34 million, from loss worth $56 million in the first half last year. Production increased 5 percent to 7.107 million carats.

The company attributes this positive development to the firming of rough diamond prices and increase in demand especially from India and China and restocking by the supply chain.

The company has complete ownership of the Argyle mine in Australia, 60 percent in Diavik mine in Canada and 77.8 percent in Murowa mine in Zimbabwe.