Part 2: KPCSC wants Russia to help end impasse on new definition of conflict diamonds

In the first installment of this two-part exclusive interview with Shamiso Mtisi, the coordinator of the Kimberley Process Civil Society Coalition (KPCSC), we focused on illegal diamond mining in the continent and where the contraband ends up...

25 october 2021

Part 1: KPCSC gives insight into illegal diamond mining, trading in Africa

Although the diamond watchdog Kimberley Process (KP) prides itself for significantly reducing the flow of conflict goods since its establishment in 2003, the Kimberley Process Civil Society Coalition (KPCSC) alleged that illegal diamond...

18 october 2021

The jewelry industry in Russia needs to be upgraded in a serious way

Dina Nasyrova is a vice-president of the International Jewelry Exhibition-Congress J-1 recently hosted by the Atrium of Gostiny Dvor in Moscow. As a partner and the Muse of the famous jeweler Ilgiz Fazulzyanov, she actively participated in the preparation...

11 october 2021

Smiling Rocks, a philanthropic business model, inspires companies to work for betterment of the world

Zulu Ghevriya, the CEO and Co-Founder of Smiling Rocks, Founder of Vedantti Jewellery and Managing Director of Prism Group has been in the diamond and jewellery industry for over 20 years. Zulu started his business, Prism Group, as a natural diamond...

04 october 2021

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...

27 september 2021

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. 

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