After a strategic review which took into account various options including potential divestment, Rio Tinto has decided to retain its diamonds businesses.

Rio Tinto Diamonds & Minerals chief executive Alan Davies said “The medium to long term market fundamentals for diamonds remain robust, fuelled by growing demand for luxury goods in Asia and continuing strong demand in North America. “We have valuable, high-quality diamonds businesses that are well positioned to capitalise on the positive market outlook. “After considering a number of alternative strategic ownership options it is clear the best path to generate maximum value for our shareholders is to retain these businesses.”