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Rio Tinto reports 16% decline in diamond production during Q2 2023

Mining giant Rio Tinto released its second quarter (Q2) production results for 2023, indicating a significant 16% decline in diamond production. The company’s Q2 diamond output totalled 970,000 carats, which, despite the decrease, was still 2% higher than the preceding quarter of the same year.

The decline in diamond production at its fully-owned Diavik mine was the primary reason for the overall decrease. Specifically, Rio Tinto attributed the lower production at Diavik to the completion of an underground pipe and an area of the open pit during the reporting period.

These operational changes and developments at the Diavik mine affected Rio Tinto’s share of carats, resulting in the reduction compared to the second quarter of 2022.The company’s H1 2023 diamond output slipped 10% to 1.92 million carats compared with 2.14 million carats produced in H1 2022.

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