Rio Tinto Q2 Di­a­mond Pro­duc­tion -5%

Solitaire - - SPECTRUM -

Rio Tinto’s di­a­mond pro­duc­tion dur­ing the sec­ond quar­ter of 2016 fell 5% to 4.43 mil­lion carats and dropped 2% ver­sus the pre­ced­ing first quar­ter. In the first half of the year, the com­pany’s di­a­mond out­put rose 2% to 8.95 mil­lion carats.

Carats pro­duced at Ar­gyle were 4% higher in the first half, at 6.88 mil­lion carats, com­pared to the cor­re­spond­ing pe­riod in 2015 fol­low­ing con­tin­ued ramp-up of the un­der­ground re­sult­ing in higher ore vol­umes pro­cessed, which was par­tially off­set by lower grades.

Lower carats re­cov­ered in the first half at Di­avik, at 2.07 mil­lion carats, com­pared to last year re­flect lower grades, par­tially off­set by higher ore avail­abil­ity. Sec­ond quar­ter carat pro­duc­tion, at 948,000 carats, was 16% lower than Ar­gyle un­der­ground di­a­mond mine. the first quar­ter largely due to lower re­cov­ered grades and slightly lower ore avail­abil­ity due to a planned main­te­nance shut­down in the plant dur­ing the sec­ond quar­ter.

Rio Tinto’s di­a­mond pro­duc­tion guid­ance for 2016 is now a range of 18 to 21 mil­lion carats (pre­vi­ously 21 mil­lion carats).

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