Rio Tinto Reviews Future of Its Diamond Business
Rio Tinto recently announced it has begun a strategic review of its diamond business that will include exploring a range of options for potential divestment of its diamond interests. Rio Tinto operates three diamond mines: Argyle in Australia (100% interest), Diavik in Canada (60% interest), and Murowa in Zimbabwe (78% interest), as well as Bunder, an advanced diamonds project in India (100% interest).
“We regularly review our businesses to ensure they remain aligned with Rio Tinto’s strategy of operating large, long-life, expandable assets,” said Harry Kenyon-Slaney, chief executive for Diamonds & Minerals. “The diamonds market outlook is very positive, with demand growing strongly and lack of new discoveries limiting supply. We have a valuable, high-quality diamonds business, but given its scale we are reviewing whether we can create more value through a different ownership structure.”
For more information, visit www.riotinto.com.