Rio Tinto Reports Drop in Output in Q3

(IDEX Online) - Rio Tinto has announced that lower mining grades and reduced ore availability led to a drop in its third-quarter diamond production at its two mines.

At the 100-percent owned Argyle mine in Australia, production was 7 percent lower than the same period of 2018 due to lower recovered grade. This resulted in a production level of 3.6 million carats for the three-month period ended September 30. However, the company said the lowered output was partially offset by stronger mining and processing rates.

At the company's 60-percent Diavik mine in Canada, its share of diamonds recovered during the quarter was down 7 percent over 2018 to 994,000 carats. The miner said this was due to lower ore availability from both the underground and the A21 open pit. The remaining 40-percent share in the mine is held by Dominion Diamond Mines.

For the first nine months of the year, Rio Tinto produced 12.8 million carats. Looking forward, Rio Tinto said its production forecast for 2019 remains unchanged with an expected total output of 15-17 million carats.