Diamonds Turn To Dust In Canada For Rio Tinto [Yahoo! Finance]
Rio Tinto Plc (RIO)
US:NYSE Investor Relations:
riotinto.com/investors-87.aspx
Company Research
Source: Yahoo! Finance
Getty Images Another one bites the dust. Mining giant Rio Tinto has closed its last diamond mine, the Diavik project in Canada's Northwest Territories, continuing a worldwide trend of diamond mine closures. Low prices, caused in part by the influx of cheap laboratory-grown gems, has forced miners to reduce production, or quit altogether. Last year another Canadian mine, the Ekati project of Australia's Burgundy Diamond Mines suspended operations because of low gem prices. De Beers Struggling Even De Beers, the world's major diamond producer and trader for the last 100 years, is struggling to survive after repeated asset-value write-downs, including a $2.3 billion impairment charge last month. In theory, that latest value reduction should make it easier for London-based Anglo American to sell its 85% stake in De Beers, possibly to a syndicate of African diamond mining countries, including Botswana and Angola. Hints from Alrosa, Russia's leading diamond business, that t
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News
- Rio Tinto shares rise as guidance held after cyclone [Yahoo! Finance]Yahoo! Finance
- Rio Tinto Gets A$2 Billion Government Support to Keep Boyne Smelter Running [Yahoo! Finance]Yahoo! Finance
- Rio Tinto provides Iron Ore update following Tropical Cyclone Narelle [Yahoo! Finance]Yahoo! Finance
- Rio Tinto provides Iron Ore update following Tropical Cyclone NarelleBusiness Wire
- Rio Tinto Ends Diamonds To Concentrate On Core Industrial Commodities [Yahoo! Finance]Yahoo! Finance
RIO
Sec Filings
- 2/19/26 - Form IRANNOTICE
- RIO's page on the SEC website