Rio Tinto Diamonds Celebrate 20 Years in India

Rio Tinto Diamonds is celebrating the 20th anniversary of its Mumbai office. In a press conference, senior Rio Tinto Diamond management detailed the ongoing connections between the mining company and India.

Bruce Cox, managing director of Rio Tinto Diamonds paid tribute to the role that Rio Tinto Diamonds’ Indian representative office has played in 20 years of growth and development.

“It is testimony to the stability of our Indian Representative Office, that there have only been four managers in 20 years. Our Mumbai office will continue to play an important role in our sales and marketing strategy with approximately two thirds of our production by value being sold into India."

Among the India firsts, is the first cuttings of Argyle diamonds were conducted in India. The result was a joint marketing program. Another project was the Indo Argyle Diamond Council (IADC) in 1993, where Argyle worked with the local diamond industry creating awareness and acceptance of Indian made diamond jewelry in the US. The result led to direct sales to US retailers.

Jean-Marc Lieberherr, general manager for the sales and marketing for all diamonds from Rio Tinto’s diamond mines, expanded on the importance India holds for the company, “the world is looking to India as a driver of future growth in the diamond industry, be that through their highly innovative and flexible manufacturing sector, or as an end consumer of diamonds. We will continue to work collaboratively with our partners and the industry, including the Gem and Jewellery Export Promotion Council (GJEPC) to create demand for diamonds throughout the distribution pipeline.”

In terms of the future, Rio Tinto is focused on actively exploring for new sources of supply. Over the last five years Rio Tinto spent over $25 million on exploration in India. The reconnaissance work resulted in the discovery of many pipes with Rio Tinto’s Bunder project—set to be a world class diamond mine.

“We would be delighted to be mining and marketing Indian diamonds in the not-too-distant future” Cox added.