Rio Tinto provides diamond production report

Rio Tinto share of production

At Argyle, development of the underground mine, as the open pit draws to a close, results in significant variation in ore feed grades into the plant. Rough diamond production for the second quarter of 2012 increased six per cent from the corresponding period of 2011 due to higher grade ore, but decreased 28 per cent compared with the first quarter of 2012 due to lower grades and a planned processing plant shutdown. Production for the first half of 2012 was 24 per cent higher than the first half of 2011, due primarily to the impact of heavy rains and flooding in March 2011. Construction of the underground mine is proceeding and scheduled to commence in the first half of 2013.

Diavik production was consistent with the corresponding period in 2011 and 12 per cent higher than the first quarter of 2012, due to higher open pit volumes and improved grades.

Borates production was nine per cent higher than the first quarter of 2012 due to normal seasonality in the business.

Titanium dioxide feedstock production increased five per cent from the corresponding period in 2011 but was slightly below the first quarter of 2012 due to the rebuild of a furnace at Richards Bay Minerals, that began in May. Year to date production at QIT Madagascar Minerals was approximately 40 per cent higher than the first half of 2011.

2012 production guidance

In 2012, Rio Tinto’s share of production is expected to be as follows:

• Diamonds – 14.6 million carats
• Titanium dioxide feedstocks – 1.6 million tonnes
• Borates – 0.5 million tonnes boric oxide equivalent.

Read Rio Tinto’s full press release >>