Covid-19 Impacts Rio Tinto Production

RAPAPORT... Production at the Diavik diamond mine in Canada slipped in the first quarter amid "significant" impacts from the coronavirus pandemic, owner Rio Tinto reported Wednesday.Output fell 2% year on year to 991,000 carats for the three months ending March 31. Production was 14% lower than the previous quarter. During the period, the availability of ore was lower than the year before as the miner dealt with a number of Covid-19-related issues, including unplanned employee absences, it said. Ore processing was also challenged by an unexpected power outage, Rio Tinto explained. The company processed 496,000 tonnes of ore, compared with 632,000 tonnes in the first quarter of 2021. However, a portion of the drop was offset by an increased share of production from Diavik beginning in November, as the miner took full ownership of the deposit. Prior to that, Rio Tinto owned 60% of the site, with Dominion Diamond Mines holding the remaining 40%. The company predicts total diamond recoveries for the year will come to between 5 million and 6 million carats, reflecting its 100% ownership of the mine. Full production for 2021 came to 3.8 million carats.Image: The Diavik mine. (Arctic Canadian Diamond Company)