Rio Tinto’s Now the Sole Owner of Canada’s Diavik Diamond Mine
It had previously owned 60 percent, partnering with Dominion Diamond Mines.

The company previously owned 60 percent of the mine and operated it. Dominion Diamond Mines owned the remaining 40 percent.
In April 2020, Dominion was granted insolvency protection under the Canadian Companies’ Creditors Arrangement Act.
Dominion sold its other diamond mine, the nearby Ekati, in February 2021 and now, the Court of Queen’s Bench of Alberta has approved the sale of its stake in Diavik to Rio Tinto.
Under the terms of the transaction, Rio Tinto has acquired all remaining assets held by Dominion, including unsold Diavik production and cash collateral held as security for the costs involved in closing the mine in the future.
Rio Tinto has, in return, released Dominion and its lenders from all outstanding liabilities and obligations.
Rio Tinto has operated Diavik since production began in 2003.
The mine is located approximately 186 miles northeast of Yellowknife and employs more than 1,100 people. In 2020, it produced 6.2 million carats of rough diamonds.
Production at Diavik is expected to end in 2025.
Rio Tinto also owned and operated the famed Argyle mine in Australia, which closed last year.
The company said it will retain and manage the Argyle Pink Diamonds brand through a proprietary Argyle pink diamonds trading platform, certification processes, and creative collaborations with its partners.
“Diamonds remain an attractive business for Rio Tinto to be in.” — Sinead Kaufman, Rio Tinto Minerals
Rio Tinto is also the majority owner and manager of a joint venture with Star Diamond Corp., which conducts exploration activities at the FalCon project in central Saskatchewan, Canada, and has signed an exploration joint venture agreement with Endiama, the national diamond mining company of Angola, to evaluate the Chiri kimberlite in the Lunda Sul Province of Angola.
“Diamonds remain an attractive business for Rio Tinto to be in,” said Sinead Kaufman, CEO of Rio Tinto Minerals.
“The market fundamentals for diamonds are robust and we will continue to close Argyle responsibly, retain and manage the Argyle Pink Diamonds brand, operate our high quality, 100-percent owned Diavik diamond mine in the Northwest Territories of Canada, and are investing in exploration around the world.”
The Latest

As demand for custom jewelry grows, the company is expanding its services to support retailers.

The mid-year conference for jewelry and watch appraisers is slated for Aug. 9 to 10 on Zoom.

Graduated stones make for elevated tennis-style pieces and dramatic statement necklaces.

As a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.


He retired last month after 28 years traveling the world to source the very best gemstones for his family’s jewelry business, Oscar Heyman.

The charm necklace features six nautical charms of shells and coral that founder Christina Puchi collected on Florida’s beaches.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The organization elected its youngest vice president as it looks to draw in fresh talent.

Campbell joins the company as vice president of business development while Liebler is the new vice president of operations.

The medals feature a split-texture design highlighting the Games’ first time being hosted by two cities and the athletes’ journeys.

Sponsored by The INSTORE Jewelry Show 2025

Globally, travel and transportation brands reigned, while in the U.S., alcoholic beverage companies and a lingerie brand took the top spots.

The Brooklyn-based jewelry designer is remembered as a true artist and a rare talent.

A new slate of Learning Workshops will take place in Oklahoma, Mississippi, and Georgia.

The middle class is changing its approach to buying jewelry and affordable luxury goods, the NRF said.

It marks the third consecutive quarter of growth for Cartier, Van Cleef & Arpels, Buccellati, and Vhernier.

The reseller’s market trends report, based on its sales data, also shows exactly how much Rolex prices have jumped since 2010.

The auction house will be hosting a retrospective paying tribute to jeweler Jean Dinh Van and his company’s 60th anniversary.

Jake Duneier and Danielle Duneier-Goldberg have stepped into the roles of CEO and president, respectively.

The “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.

The Texas-based jewelry retailer has set up shop in Tennessee and Arizona.

Eric Ford will step into the role, bringing with him decades of experience.

In addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.

The “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.

The seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.

The New England jeweler is hosting a bridal event for the month of August.