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

Associate Editor Lauren McLemore headed out West for a visit to Potentate Mining’s operation hosted by gemstone wholesaler Parlé Gems.

Fordite is a man-made material created from the layers of dried enamel paint that dripped onto the floors of automotive factories.

Gilbertson has worked as a researcher, jeweler, lapidary artist, appraiser, and business owner throughout his decades in the industry.

With their unmatched services and low fees, reDollar.com is challenging some big names in the online consignment world.

A decision likely won’t come until January 2026 at the earliest, and the tariffs remain in effect until then.


Located in the revamped jewelry hall at the retailer’s New York City flagship, this opening is Tabayer’s first shop-in-shop.

As the gold price rises, the manufacturer is offering a 100 percent payout through Sept. 30 for gold clean scrap.

Jewelers of America is leading the charge to protect the industry amidst rising economic threats.

Guillermo del Toro’s 2025 “Frankenstein” will feature 27 jewels and objects from the storied brand, including pieces from its archives.

The Waldorf Astoria New York’s grand reopening this past summer means a homecoming for the industry group’s annual event.

Anglo plans to merge with Teck Resources Ltd. to form Anglo Teck. The deal changes nothing about its plans to offload De Beers.

The 9.51-carat fancy vivid blue diamond, which set two world auction records at Sotheby’s in 2014, is estimated to fetch up to $30 million.

The industry veteran joins the auction house as it looks to solidify its footprint in the jewelry market.

The nonprofit awarded four students pursuing a professional career in jewelry making and design with $2,250 each.

The Texas-based jeweler has also undergone a brand refresh, debuting a new website and logo.

The two organizations have finalized and signed the affiliation agreement announced in May.

The single-owner sale will headline Sotheby's inaugural jewelry auction at the Breuer building, its new global headquarters, this December.

From sunrise yoga to tariffs talks, these are some events to check out at the upcoming inaugural event.

Smith recalls a bit of wisdom the industry leader, who died last week, shared at a diamond conference years ago.

The “Victoria” necklace features a labradorite hugged by diamond accents in 18-karat yellow gold.

Two lower courts have moved to block the import taxes, which will remain in place as the legal battle continues.

The Kansas City Chiefs quarterback shares Hublot’s dedication to pursuing greatness, the Swiss watchmaker said.

The Type IIa stone, recovered from Botswana’s Karowe diamond mine last month, features unique coloration.

Breitling is now the NFL’s official timepiece partner, a move that puts the brand in front of the millions of Americans who watch football.

NYCJAOS is set for Nov. 21-23 in New York City’s Chelsea neighborhood.

U.S.-based investment company SMG Capital LLC is the new owner of the luxury brand.