Mining giant Rio Tinto has released results for its production performance in 2016. According to Rough & Polished, Rio Tinto’s production was up 4% year-on-year. Diamond production for 2016 totaled 17.9 million carats, compared to 17.3 million carats in 2015.
For the quarter ended December 31, 2016, Rio Tinto’s production showed a 7% increase year-on-year. Production in the last quarter totaled 4.6 million carats compared to 4.3 million carats in the same period last year.
At the Argyle mine in Australia, 2016 production was 4% higher following the ramp-up of the underground mine. At the Diavik mine in Canada, production was also up 4% in 2016. Rio Tinto also said it expects to produce between 19 to 24 million carats in 2017.
Currently, Rio Tinto has a 100% stake in the Argyle Mine and a 60% stake in the Diavik Mine.
