Diavik Diamond Production Drops by 37%

By John Jeffay / October 19, 2023 / www.idexonline.com / Article Link

(IDEX Online) - Rio Tinto reported a 37 per cent drop in Q3 production at its only diamond mine, Diavik, in Canada's Northwest Territories.It said the completion of an underground pipe, and an area of the open pit at the mine, 200 miles from the Arctic Circle, were to blame for the lower output.Rio Tinto said Q3 production for the three months to 30 September was 757,000 carats, down from 970,000 in Q2 and 954,000 in Q1.In February, it announced plans to invest $40m in underground mining that would prolong Diavik's life to early 2026.Rio Tinto, the world's second-largest metals and mining corporation, said underground mining below the existing A21 open pit operation should yield an additional 1.4m carats.Pic courtesy Rio Tinto of Diavik mine

Recent News

Market sees gold sector nearing full value overall after target upgrades

August 18, 2025 / www.canadianminingreport.com

Gold stocks gain even as metal pulls back

August 18, 2025 / www.canadianminingreport.com

Gold stocks rocket to new highs, valuations no longer inexpensive

August 11, 2025 / www.canadianminingreport.com

Tariff issue caused by potential definition change of traded gold bars

August 11, 2025 / www.canadianminingreport.com

US BLS head removed after revisions to employment data

August 04, 2025 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok