Academician Pokhilenko: The situation with rough diamonds in the Russian Federation will start changing for the worse as early as 2025

Nikolai Petrovich Pokhilenko, Academician of the Russian Academy of Sciences (RAS), Deputy Chairman of the Siberian Branch (SB) of the RAS, Scientific Director of the Institute of Geology and Mineralogy of the SB of the RAS, is a prominent...

11 january 2021

Ilgiz Fazulzyanov: For a creator, the quarantine is the time to work on future masterpieces

Ilgiz Fazulzyanov is a successful and internationally recognized jewellery designer. He received his academic art education in Kazan and moved to Moscow in the 1990s where he lives and works now. His brand, Ilgiz F., is well known among true connoisseurs...

04 january 2021

Botswana Diamonds keen to mine KX36 kimberlite if found commercial

Botswana Diamonds intends to mine the KX36 kimberlite, which it recently acquired from Petra Diamonds if found commercial. The high-grade KX36 kimberlite pipe is part of the three Prospecting Licenses in the Central Kalahari Game Reserve in Botswana...

28 december 2020

‘We expect to completely open the Bourse for business by Q1 of the Year 2022,’ assures Vallabhbhai Patel, Chairman, SDB

Vallabhbhai Patel, Chairman of the Surat Diamond Bourse, dreamed of building the world’s largest commercial building in Surat for the Indian diamond industry. He conceptualized the ‘Surat Diamond Bourse’ (SDB), which is set to redefine...

21 december 2020

An opportunity to show your products and occupy your niche

Recently, GOLDNET.MARKET, the first jewellery wholesale marketplace, appeared on the Russian jewellery market. Vladimir Pilyushin, one of the founders of GOLDNET.MARKET, editor-in-chief of the ‘Russkyi Yuvelir’ (Russian Jeweller) magazine...

14 december 2020

Rio Tinto Diamond production down 8%, revenue dips 11% in 2019

27 february 2020

With output slipping at both its mines, Rio Tinto Diamond’s production fell 8% to 17 mln carats for the year 2019. Carat recovery at Rio Tinto’s Argyle mine in Australia dropped 8% due to lower recovered grades, which were only partially offset by higher ore processing. At Canada’s Diavik mine too production declined 8% as lower grades from the miner’s underground operation outweighed higher grades processed from the A21 open pit. 

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Image credit: geralt (Pixabay)


Rio Tinto Diamond reported that revenue slid 11% to $619 mln in 2019 as prices for rough diamonds weakened. The miner recorded a net loss of $21 mln, compared with a profit of $118 mln a year ago. Earnings before interest, tax, depreciation and amortization (EBITDA) plunged 50% to $151 mln.
Rio Tinto’s Diamond expects output of between 12 mln and 14 mln carats this year. This lower production forecast reflects the closing of the Argyle mine at the end of 2020. Additionally, production will be affected by lower ore availability and grades from the underground portion of Diavik. 

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