Rio Tinto Production Falls in First Half

RAPAPORT... Diamond production at Rio Tinto dropped 10% year on year inthe first half of 2019, as the miner recovered lower-grade ore at its Argylemine in Australia. The company's share of production at the Argyle and Diavik mines came to 8.3million carats for the six months ending June 30, the company said Tuesday.Argyle yielded 6.1 million carats, a 13% decrease compared to the same periodlast year. Rio Tinto's share of output at Diavik fell 1% to 2.2million carats, as lower grades in the first quarter outweighed an improvement in the secondquarter, the miner said. RioTinto owns a 60% stake in the Canadian facility, with Dominion Diamond Minesholding the remainder. The company's production for all mines slipped 3% to 4.5 million In the second quarter. Production at Diavik rose 3% to 1.2million carats, while recovery at Argyle dropped 5% during the period. Rio Tinto expects to produce 15 million to 17 million caratsin 2019, compared to 18.4 million carats last year. Image: Argyle mine. (Rio Tinto)