Canada: Rio Tinto to Invest $40 Million to Extend Diavik’s Life-of-Mine

Rio Tinto has extended the life-of-mine life at its Diavik diamond mine in the Northwest Territories of Canada. According to Mining Weekly, Rio Tinto has announced a “$40-million investment in the first phase of underground mining below the existing A21 open pit.”

Sinead Kaufman, Chief Executive Minerals at Rio Tinto, said: “Rio Tinto’s decision to support the underground development of the A21 pipe was prefaced on compelling industry fundamentals, our proven capacity to safely develop diamond mines in extreme conditions and a track record in competing successfully in the global diamond industry. “This is good news for our employees, partners, suppliers and local communities in the Northwest Territories.”

Diavik is expected to end commercial production in the first quarter of 2026 and Phase 1 of underground mining of Diavik’s A21 pipe is expected to deliver an additional 1.4-million carats of rough diamonds.

The post Canada: Rio Tinto to Invest $40 Million to Extend Diavik’s Life-of-Mine appeared first on Israeli Diamond.