Connect with us

DiamondBuzz

Rio Tinto’s Diamond Division Posts $79 Million EBITDA Loss in 2025

Higher output from Canada’s Diavik Diamond Mine offsets revenue decline, but end-of-life pressures continue to weigh on performance.

Published

on

Rio Tinto reported a challenging year for its diamond business in 2025, posting an underlying EBITDA loss of $79 million despite improved revenues. While the loss narrowed compared to the $115 million deficit recorded in 2024, the division remained under pressure amid a global diamond market slowdown and the nearing closure of its last active mine.

Annual revenue rose 19% to $332 million, supported by stronger production at the Diavik mine in Canada, Rio Tinto’s only remaining diamond operation. Output climbed 61% to 4.4 million carats, driven by the ramp-up of mining activities in the underground section of the A21 deposit, which began scaling up in late 2024.

However, the A21 underground ore body is expected to be depleted by the end of the first quarter of 2026, marking the end of Diavik’s operational life. The company plans to spend approximately $1 billion this year on closure activities related to Diavik, as well as rehabilitation work at the former Argyle Diamond Mine, which ceased production in 2020, and other non-diamond projects.

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted

DiamondBuzz

Antwerp Diamond Industry Gifts Trump Freedom 250 Ring After US Tariff Relief

The Symbolic Gesture Has Attracted International Attention Because It Followed Tariff Relief Measures

Published

on

Belgium’s renowned diamond sector has reportedly presented a gem-studded “Freedom 250” ring for former U.S. President Donald Trump through the American envoy in Brussels.

The symbolic gesture has attracted international attention because it followed tariff relief measures that benefited parts of the industry and emerged amid broader scrutiny regarding expensive gifts associated with political leaders and public officials.

The development highlights the intersection of commerce, diplomacy, symbolism, and ethics, raising questions about the role of ceremonial gifts in international relations and the standards governing their acceptance.

According to reports, the gift presented to Trump is known as the “Freedom 250” ring, an elaborate piece featuring precious stones and patriotic symbolism. The title appears to reference the approaching 250th anniversary of American independence, a milestone expected to generate commemorative events and national celebrations.

The ring’s design reportedly incorporates luxurious materials intended to symbolize friendship, shared prosperity, and enduring ties between Belgium and the United States. Supporters describe it as a cultural and commercial tribute reflecting admiration for American history and the longstanding relationship between the two nations.

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x