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Rio Tinto’s Diamond Production Down 10% in Q1 2020


Rio Tinto’s diamond production for the first quarter of 2020 fell 10% from a year earlier to 3.4m carats as of March 31, 2020. The production at Argyle mine was 2.6 million carats, down 7% from the same period last year, according to the company. Rio Tinto has been cutting production at the mine in preparation for its closure in the fourth quarter of this year. Rio Tinto, which owns 60% stake in Canadian Diavik mine, saw its share of production at Diavik mine dropped by 15% to 857,000 carats due to the recovery of lower grade ore. Rio Tinto expects to produce 12 million to 14 million carats of diamonds this year at its Argyle mine in Australia and its Diavik mine in Canada.
Source: Rough&polished

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