Production Rises at Rio Tinto's Last Diamond Mine
April 21, 25
(IDEX Online) - Rio Tinto has reported a 27 per cent increase in first quarter production at the Diavik mine, in Canada's Northwest Territories.
It follows a 17 per cent dip in production during FY 2024, a year blighted by the death of four workers at the deposit and two crew in a plane crash.
Rio Tinto said Q1 2025 production was 942,000 carats, an increase of 27 per cent from Q1 2024 and 22 per cent from Q4 2024. The company did not provide guidance for FY 2025 in its production summary.
Diavik is Rio Tinto's only operational diamond mine, following the closure of Argyle, in Australia, in November 2020.
Diavik, which started commercial production in January 2003, is itself slated for closure next year.
The company emailed over 1,300 employees last September, offering them voluntary separations as it sought to reduce operating costs.
It reported a $127m loss for the mine in 2024, saying weak market conditions led to "fixed cost inefficiencies".
Pic courtesy Rio Tinto shows Diavik.