Rio Tinto's 3Q Diamond Production +5%
Post Date: 20 Oct 2012 Viewed: 356
Rio Tinto reported that its diamond production grew 5 percent year on year to 3.706 million carats in the third quarter of 2012. Production increased mainly due to higher grades of diamonds recovered from Rio Tinto’s wholly-owned Argyle mine in Australia.
Argyle's production rose 7 percent to 2.454 million carats during the quarter. Rio Tinto’s 60 percent share in Canada’s Diavik mine reported production was flat at 1.160 million carats, and its 78 percent stake in Zimbabwe’s Murowa mine had production of 92,000 carats, up 28 percent.
During the first nine months of the year, Rio Tinto’s diamond production increased 13 percent to 9.873 million carats. Argyle's production rose 17 percent to 6.461 million carats, while the company’s Diavik production grew 5 percent to 3.046 million carats and its Murowa production increased 9 percent to 215,000 carats.
Rio Tinto expects full year production to reach 12.6 million carats, which would be 7 percent higher than in 2011.