The Argyle Pink Jubilee diamond

RIO TINTO PLANS TO EXPAND ITS DIAMOND MINING BUSINESS

Mining giant Rio Tinto has a new chief, and he wants the company’s business to invest more in its diamond assets.

 

In an interview to Bloomberg Television quoted by Gem Konnect, Rio Tinto Group CEO Jean-Sebastien Jacques, who was appointed to his post in July, said: “What we want is to improve the quality of our portfolio. I would love to have more diamonds, to be very explicit. That’s a priority area”. According to the piece, analysts had speculated the opposite when he took office, namely – that Jacques will move to divest the company’s diamond mines.

 

Rio’s diamond business is concentrated in the Diavik mine in Canada and the Argyle mine in Australia, and employs 2,000 people globally.

Other articles on the category

The branch news