Rio Tinto’s diamond production at Argyle dips 11%

Diamond production outlook for 2017 remains unchanged
Rio Tinto’s diamond production at Argyle dips 11%

Rio Tinto announced its production results for its first quarter period, The mining giant noted a dip in production at its Argyle diamond mine, while it remained steady at Diavik. At Argyle diamond production slipped 11 percent on y-o-y basis to 3016 million tonnes. The company attributes this to lower ore volumes processed and recovered grade. At Diavik, the diamond production stood at 1136 million tonnes as lower ore throughput was offset by higher recovered grades.

Development of the A21 pipe remains on schedule. The company is maintaining the same diamond production guidance in 2017, that of 19 to 24 million carats.

Speaking on the company’s overall production results, Rio Tinto chief executive J-S Jacques said “Despite challenging weather conditions at our West Australian and Queensland operations, we delivered solid production in the first quarter of 2017. Our strategy is unchanged. Our number one priority is safety. We maintain our disciplined approach to capital management and maximising cash flow, with a focus on managing costs and enhancing productivity across the business. These actions support the delivery of strong cash returns to shareholders in the short, medium and long term.”

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