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Rio Tinto’s diamond output rises in the fourth quarter

5 days ago

Rio Tinto’s diamond output rose in the fourth quarter as the company continued to ramp up production following a temporary closure to deal with ground sinkage, and the move to underground mining at a major pit.

 

Total output climbed 18% year on year to 775,000 carats for the three months that ended December 31, Rio Tinto said Thursday. The miner completed the first phase of development in the move to underground mining at its A21 open pit, which finished production at the end of 2023. It is now leveling up processing to reach commercial production in that area.

 

Additionally, the company continued to ramp up production at other areas of the deposit, which it was forced to shutter temporarily in July due to subsidence, or a caving of the ground, which made it unsafe. Carat recovery was also up 43% from the previous quarter. For the full year, output slipped 17% to 2.8 million carats, as total ore processed fell 25% to 1.3 million carats.  




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