Rio Tinto's Q3 Diamond Production Up 27%

(IDEX Online News)

The increase in Diavik's production comes against a six week shutdown in the third quarter of 2009, partly offset by a higher proportion of ore sourced from the lower grade A418 pipe. Operations were scaled back in 2009 in response to the economic slowdown, the company said in a quarterly production update published Thursday.

Production at Argyle in the third quarter totaled 2.4 million carats, up 7 percent year over year. Compared to the second quarter of this year, production declined 7 percent. RTD said recovery from the production slowdown at Argyle in 2009 has been partially offset by processing of lower grade, open pit ore in 2010.

In September, the company approved an $803 million expenditure to complete work on the underground mine at Argyle, known as Block Cave. The underground mine will be fully operational in 2013 with targeted production of 20 million carats a year, extending the mine life to 2019.

Production at the Murowa mine in Zimbabwe jumped 147 percent, with RTD's share standing at 42,000 carats.

Year-to-date, RTD's diamond production increased 11 percent to 10.64 million carats.