Rio Tinto Q1 Diamond Production 3.5 Million Carats

Production at Argyle suffered from lower feed grade and frequent stoppages of the process plant due to wet weather. First quarter production totaled 2,531,000 carats, falling 27.8 percent compared with the fourth quarter of 2009 and 42.5 percent year-over-year.

At Diavik, first quarter production was 1,563,000 carats, 12 percent lower than the same quarter of 2009 primarily due to lower volumes processed. Rio Tinto’s 60 percent share of the Diavik production is 938,000 carats. Six percent of the quarter’s production was sourced from the new underground mine.

In Zimbabwe, Murowa produced 37,000 carats. The company holds a 77.8 percent stake in the diamond mine, giving yielding it 29,000 carats.

Rio Tinto said that minerals production in general continued to be affected by lower demand, inline with reduced economic activity across all major regions.

Diamond exploration continued in India, Canada and Democratic Republic of Congo. In India, drilling commenced at Bunder “to increase confidence in the resource estimate.” The exploration team is currently processing a surface bulk sample to recover a diamond parcel for valuation.