Rio Tinto won’t bid for remaining stake in Canadian diamond mine

Global miner Rio Tinto has no plans to take full control of its Canadian Arctic diamond mine, which faces closure and will cost hundreds of millions of dollars to clean up, court documents show.

Rio, which owns 60% of the Diavik mine in Canada’s Northwest Territories, said in a May 28 court filing that it “does not seek to bid” for Dominion Diamond Mines ULC’s 40% stake or its nearby Ekati mine as part of a court-supervised auction.