JOURNAL ARTICLE

Rio Tinto Calls Time on Diamond Business as Last Mine Closes.

  • Published In: Bloomberg.com, 2026. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Hunt, Paul-Alain 3 of 3

Abstract

The article focuses on Rio Tinto Group’s exit from diamond mining with the closure of its Diavik diamond mine in Canada’s Northwest Territories, ending over 50 years in the business. Diavik, notable for its engineering challenges beneath a frozen lake, produced primarily white and yellow diamonds, including a 552.74-carat yellow stone. Rio Tinto’s decision to leave diamond mining aligns with its strategic shift toward core commodities like iron ore, copper, aluminum, and lithium, following financial losses in its diamond unit amid market pressures from synthetic stones and oversupply. The company’s earlier diamond ventures included the Argyle mine in Australia, known for pink diamonds, which closed in 2020. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2026/03, pN.PAG
  • Document Type:Article
  • Subject Area:Business and Management
  • Publication Date:2026
  • Accession Number:192514368
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