Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Yesterday

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

Diamond production at Rio Tinto declines 12% in Q4; 15% in 2018

22 january 2019
news_06072018_riotinto.pngRio Tinto Group reported a 15% decline in diamond production in 2018 as compared to the previous year in its production results for the quarter ending December 31, 2018, and the full year that was released last week.
The miner reported that production declined in Q4 2018 by 12% over the previous quarter, and attributed the drop mainly on account of Argyle, where annual carat production was 18% lower than in 2017, and where Q4 production fell by 47% to 3.21 mn cts as compared to 6.15 mn cts a year earlier. According to Rio Tinto, the drop was because production in 2017 was enhanced by the processing of higher grade alluvial tailings.
The miner reported that the total production for the year, inclusive of Argyle, which is 100% owned by Rio Tinto, and its share of the Diavik mine, owned 60% only by Rio Tinto, stood at 18.4 mn cts, as against the 21.6 mn carats produced in 2017.
At Diavik, carats recovered in 2018 at 4.36 mn cts was 3% lower than the 4.49 mn cts recovered in 2017. The marginal drop was attributed to lower recovered grade, which was partially offset by higher ore processing. The A21 project successfully mined first ore in March 2018 and reached commercial production during the fourth quarter.
Rio Tinto attributes the diamond production decline mainly on account of lower carat production at its Argyle mine in Australia, which is nearing the end of its productive mine life. Rio Tinto said that production guidance for 2019 was between 15 and 17 mn carats.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished