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
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
