Diavik Mine Hits 150m-carat Milestone

(IDEX Online) - Rio Tinto says its Diavik mine has now produced 150m carats, far surpassing the 100m carat estimate before it started commercial operations in 2003.

Diavik, Rio Tinto's last remaining diamond mine, is due to close early next year because its economically viable diamond reserves are almost depleted - a situation not helped by a sharp decline in diamond prices.

Diavik, located on an island in a remote sub-Arctic lake, is the first Canadian diamond mine to reach 150m carats.

"We are proud to reach this milestone, a testament to the focus of the Diavik team and their commitment to safe and effective operations despite challenging operating conditions," said Matthew Breen, COO at Diavik.

In July Rio Tinto has reported an increase in first-half sales at Diavik, up 9 per cent to $162m, and said it had narrowed losses for the period from $63m to $55m.

Diavik has been wholly owned by Rio Tinto since 2021 after acquiring the remaining stake from Dominion Diamond Mines.

Diavik is Rio Tinto's last diamond mine after the closure of the Argyle diamond mine, in Western Australia, in November 2020 after 37 years of production. Rio Tinto also operated the Murowa mine in Zimbabwe until 2015.

Pic, courtesy Rio Tinto, shows rough diamonds at Diavik.