Rio Tinto: Diamond Mining Down 17% in 2024
Mining giant Rio Tinto reported strong performance in 2024 but also noted a decline in diamond production, according to a report by Rough & Polished.
According to the report, diamond production at the Diavik mine in Canada’s Northwest Territories increased by 18% in Q4 compared to the same period in 2023, reaching 775,000 carats of rough diamonds. This growth reflects a recovery in mining volume following a temporary reduction caused by a partial collapse at the mine in July.
Rio Tinto also announced that the A21 underground mine has entered commercial production following the completion of its first development phase in October 2024. This expansion contributed to the company’s overall diamond output. However, total diamond production at Rio Tinto declined by 17% last year, amounting to 2.76 million carats, compared to 3.34 million carats in 2023.
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