SourcingJun 23, 2025
Diamond Producers, Organizations to Kick in Money to Promote Natural DiamondsSourcingJul 17, 2025
Rio Tinto Names New CEO, Production Rises at Diavik
Production at the mine in Canada’s Northwest Territories topped 1 million carats in Q2, the third consecutive quarter of growth.
Simon Trott, head of Rio Tinto’s iron ore business, will take over as the mining company’s chief executive next month. He succeeds Jakob Stausholm, who has been head of Rio Tinto for almost five years. (Photo courtesy of Rio Tinto)
London—Rio Tinto, the sole owner of Canada’s Diavik Diamond Mine, has named a new chief executive.
The London-based mining company announced Tuesday that Simon Trott, the current head of its iron ore business, will replace Jakob Stausholm as chief executive, effective Aug. 25. Stausholm also will resign from the company’s board of directors.
Trott has been with Rio Tinto since 2012.
He was appointed chief commercial officer in January 2018 and became chief executive of the company’s iron ore business in March 2021.
Dominic Barton, chair of Rio Tinto’s board of directors, said, “Simon came into our iron ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships, and setting us on a pathway for growth.
“Under his leadership, iron ore has become a center of innovation for the group, driving operational excellence, technology and operating model optimization, levers Simon can now bring to Rio Tinto at scale.”
Stausholm has headed Rio Tinto since January 2021, taking over for Jean-Sébastien Jacques, who was pushed to resign in September 2020 after the mining company intentionally blew up a sacred indigenous site in Australia earlier that year.
“I want to again recognize Jakob’s significant contribution to Rio Tinto at a critical time in its evolution,” Barton said.
“Under his leadership we have rebuilt relationships with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, and set a compelling growth trajectory.”
Related stories will be right here …
The London-based mining company announced Tuesday that Simon Trott, the current head of its iron ore business, will replace Jakob Stausholm as chief executive, effective Aug. 25. Stausholm also will resign from the company’s board of directors.
Trott has been with Rio Tinto since 2012.
He was appointed chief commercial officer in January 2018 and became chief executive of the company’s iron ore business in March 2021.
Dominic Barton, chair of Rio Tinto’s board of directors, said, “Simon came into our iron ore business at a time of significant challenges and has been instrumental in rebuilding culture, strengthening external relationships, and setting us on a pathway for growth.
“Under his leadership, iron ore has become a center of innovation for the group, driving operational excellence, technology and operating model optimization, levers Simon can now bring to Rio Tinto at scale.”
Stausholm has headed Rio Tinto since January 2021, taking over for Jean-Sébastien Jacques, who was pushed to resign in September 2020 after the mining company intentionally blew up a sacred indigenous site in Australia earlier that year.
“I want to again recognize Jakob’s significant contribution to Rio Tinto at a critical time in its evolution,” Barton said.
“Under his leadership we have rebuilt relationships with key stakeholders, aligned our portfolio with the commodities where demand growth is strongest, and set a compelling growth trajectory.”
Also this week, Rio Tinto released its second quarter 2025 production figures, including for its one remaining diamond mine, the Diavik Diamond Mine in Canada.
Production at Diavik reached 1.24 million carats in Q2, up 76 percent from 702,000 in Q2 2024.
The second quarter 2025 marked the third quarter in a row of production growth at the mine.
A total of 775,000 carats were recovered in the fourth quarter 2024. That increased to 942,000 carats in Q1 2025 before topping 1 million carats in the most recent quarter.
Diavik faced a series of challenges in 2024, starting with a plane crash in January that killed four mine workers and led to a production pause, the subsidence (sinking) of one of the mine’s access roads, and the overall weaker market for diamonds.
Rio Tinto also noted that it ended open-pit mining on the A21 pipe in 2024.
In late 2024, the mining company began the first of two phases of commercial production underground at A21, an investment projected to extend the mine’s life into the first quarter of 2026.
More on Sourcing
The Latest
CollectionsJun 29, 2026
Briony Raymond’s New Collection Is a ‘Carousel’ of Hard StonesThe new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.
IndependentsJun 29, 2026
Look Inside Lee Michaels’ Revamped Mississippi FlagshipLee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.
GradingJun 29, 2026
National Rarities Announces New Gemology ManagerSean Milliner has joined the company.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
GradingJun 29, 2026
GIA to Open New London CampusClasses will begin in August at GIA’s new Canary Wharf location.
Weekly QuizJun 25, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 26, 2026
‘Hogback’ Diamond Ring Finds a New Home A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.
CollectionsJun 26, 2026
Strength Is Sharpened Into Beauty in Kris Averi’s ‘Prism Thorn’ RingThe rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
MajorsJun 26, 2026
Rembrandt Charms Debuts ‘Charms That Give Back’The new initiative donates a portion of the proceeds from select charms to charitable causes.
TrendsJun 26, 2026
Bernard James Celebrates Knicks’ Win with RingThe Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.
EditorsJun 25, 2026
Out & About: How Jewelers Mutual, SCAD Are Tackling the Bench Jeweler ShortageSenior Editor Lenore Fedow headed to Savannah to learn more about the 10-year, $10 million partnership between JM and the art school.
CollectionsJun 25, 2026
Mejuri Experiments With SteelIts new capsule jewelry collection features gold-finished stainless steel pieces designed for a maximalist look without a luxury price tag.
Events & AwardsJun 25, 2026
Watches & Wonders Announces 2027 DatesThe week-long event in Geneva is slated for April 2027.
ColumnistsJun 24, 2026
The Revenue Hiding Between Your Counter and Your Online CartJewelers are missing out by not offering this one key add-on at the online point of sale, Emmanuel Raheb writes.
CollectionsJun 24, 2026
Greenwich St. Jewelers, Jewel Boxing’s Latest Drop Is On-TrendThe fourth collaborative collection from the retailer and jewelry content creator focuses on gemstone charms and strands of colorful beads.
Events & AwardsJun 24, 2026
AGTA Accepting Entries for Spectrum 2026This year’s AGTA Spectrum & Cutting Edge Awards will feature two new categories.
SourcingJun 24, 2026
Columbia Gem House To Offer Alexandrite Melee OnlineThe collection features traceable alexandrite from Brazil in calibrated sizes that is sorted by grade.
MajorsJun 24, 2026
CaratLane Names New Chief Sales OfficerDhaval Raja has been appointed to the role.
CollectionsJun 23, 2026
Francesca Villa Goes ‘On the Road’The capsule collection looks to vintage trunk pins that echo the spirit of speed, freedom, and the mythology of the American road trip.
SourcingJun 23, 2026
New Paraíba Tourmaline Source Reportedly Discovered in EthiopiaSSEF issued a notice about the potential new source of the sought-after gemstone, citing “credible reports” from trade sources.
MajorsJun 23, 2026
Etsy Says ‘Shop Other Jeffs’ This Prime DayAs Amazon Prime Day kicks off, Etsy is encouraging shoppers to support small businesses.
Events & AwardsJun 23, 2026
AGA Announces 2026 Scholarship WinnerCole Winward is the recipient of 2026 AGA Gemological Scholarship.
EditorsJun 22, 2026
15 Pieces of Jewelry That Brought Us Joy in Vegas Whether they evoked nostalgia, wonder, or laughter, these jewels put a smile on our faces.
Events & AwardsJun 22, 2026
Plans Announced for New Trade Show in BaselScheduled for April 2027, Basilia will be the first watch and jewelry trade show held in Basel since the collapse of Baselworld in 2020.
Events & AwardsJun 22, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
WatchesJun 22, 2026
Snoopy Inspires New ‘Flying Ace’ Ball WatchThe beloved beagle dons his aviator outfit for the new Engineer Master II Snoopy Flying Ace timepiece.
AuctionsJun 18, 2026
Paraíba Tourmalines Sell for $3.4M at Sotheby'sThe recent high jewelry auction, which also featured the sale of a 10-carat blue diamond, was “a celebration of color.”
