Rio Tinto Making $40M Investment in Diavik Diamond Mine
The company is going underground at the A21 open pit, a move that will help extend the mine’s life into early 2026.

The mining company announced last week that it has approved a $40 million investment in the first phase of underground mining at the existing open-pit operations at the A21 pipe.
It is expected to deliver an additional 1.4 million carats of diamonds for Diavik.
Rio Tinto said it will move existing employees and contractors from other areas of the mine for both the construction and production phases of the project.
In the first half of 2024, Diavik is expected to seek approval for phase 2 of the A21 underground project, anticipated to yield 800,000 carats of rough diamonds.
“Rio Tinto’s decision to support the underground development of the A21 pipe was prefaced on compelling industry fundamentals, our proven capacity to safely develop diamond mines in extreme conditions and a track record in competing successfully in the global diamond industry,” said Rio Tinto Minerals Chief Executive Sinead Kaufman.
“This is good news for our employees, partners, suppliers and local communities in the Northwest Territories.”
Located 200 kilometers (124 miles) south of the Arctic Circle, the Diavik Diamond Mine consists of four kimberlite pipes: A154 North, A154 South, A418, and A21.
A21 was the last of the four pipes commissioned, opening in 2018.
Rio Tinto said based on the updated mine plan and production schedule, including the A154N and A154S pipes, the first and, if approved, second phases of underground operation at A21 will extend the mine’s life into the first quarter of 2026.
The original life-of-mine plan had Diavik closing in 2025.
Rio Tinto has operated Diavik since it opened in 2003 but previously had a partner in the mine, Dominion Diamond Mines, which owned a 40 percent stake.
Dominion filed for, and was granted, insolvency protection in 2020, and sold its stake in Diavik to Rio Tinto in 2021, making the company the sole owner of the mine.
The Latest

Sponsored by the Gemological Institute of America

The 2025 Australian Open champion is the jewelry brand’s first athlete ambassador.

The West Village jewelry boutique’s new shop-in-shop is the cornerstone of Nordstrom’s revamped jewelry hall.

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

The brand’s “Golden Strada” statement necklace features round, marquise, and pear diamonds that sparkle like Fourth of July fireworks.


JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Located on Rodeo Drive, the store’s design was inspired by Hollywood and Los Angeles culture.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The new location continues the brand’s celebration of its 25th anniversary.

The online watch marketplace’s “Time Is Our Thing” campaign highlights the importance of time.

Working with Amazon’s Counterfeit Crimes Unit and law enforcement, Pandora helped to shut down a large-scale counterfeit network in China.

The jewelry company has closed its three California brick-and-mortar stores, as well as its online shop, for now.

The company is providing the opportunity for an FIT student to work alongside master diamond cutter Willie Lopez in its workshop.

He is remembered for his successful entrepreneurship, generosity, and dedication to his family.

The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.

Welcome warm summer days with red hot rubies perfectly chosen as July’s birthstone.

Co-founders Afzal Imram and Lin Ruiyin brought their son’s story of a cosmic egg, toadstool, and railroad to life in their new collection.

The best time to prepare for the holiday season is right now, according to columnist Emmanuel Raheb.

This year’s winner is Morgan Keefe, who is currently studying at GIA to be a gemologist.

“The Jewelry Book” comes out this September.

The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.

Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.