Sourcing

Rio Tinto Opens New Diamond Pipe at Diavik

SourcingAug 22, 2018

Rio Tinto Opens New Diamond Pipe at Diavik

The diamond mining news comes after a four-year construction period and $350 million investment.

The Diavik diamond mine produced this 187.7-carat rough diamond; it is the largest diamond ever found in North America. This week, Rio Tinto announced the opening of a fourth pipe at the mine that it says will be an important source of supply for the next four years.

London—In its latest diamond mining news, Rio Tinto has announced the opening of a fourth diamond pipe at the subarctic Diavik mine in Canada’s Northwest Territories.

The new open-pit pipe, known as A21, will be an important source for incremental supply for the next four years, the company said, so it is able to sustain production levels at the site.

The pipe is adjacent to Diavik’s existing mining operations at Lac de Gras.

The first ore from the site was delivered in March, and the pit is expected to be at full production during the fourth quarter of 2018.

This follows a four-year construction period and investment of about $350 million from Rio Tinto and joint venture partner Dominion Diamond Corporation, which Rio Tinto Copper & Diamonds CEO Arnaud Soirat said reflects the “strong outlook” they see for the diamond industry.

“It is a remarkable achievement to deliver this project safely and ahead of time in such a challenging environment, positioning Diavik to continue meeting the demand for its outstanding diamonds,” he said.

The company celebrated the opening of A21 at an event held Monday, with Wally Schumann, Minister of Industry, Tourism and Investment with the Government of the Northwest Territories, as the guest of honor. Also in attendance were indigenous community representatives, joint venture partners and Rio Tinto employees.

The Diavik diamond mine is located 300 kilometers (about 186 miles) northeast of Yellowknife, the capital of Canada’s Northwest Territories. It began production in 2003 and has been a fully underground mining operation since 2012, producing predominantly gem-quality diamonds.

Brecken Branstratoris the senior editor, gemstones at National Jeweler, covering sourcing, pricing and other developments in the colored stone sector.

The Latest

AuctionsSep 30, 2022
Red Diamond Earns $1.8M at Auction

The final hammer price blew the pre-sale estimate out of the water.

EditorsSep 30, 2022
The Best of Betty White’s Jewelry Sold at Auction

Michelle Graff recaps the cats, fortune cookies, and charm bracelets that caught her eye while covering the late actress’ estate sale.

Policies & IssuesSep 30, 2022
Voting Is Open for the Fairmined 100 Challenge’s Best Collection

The winners, picked by a group of judges and voted as the public’s favorite, will be announced in a webinar on Oct. 11.

Brought to you by
6 Steps to Start a Dynamic Company Culture

Learn how to better serve your employees, customers and community by having a dynamic and supportive company culture.

CollectionsSep 30, 2022
Piece of the Week: Fewer Finer’s ‘Family Bracelet’

The engravable piece is a perfect family heirloom.

Weekly QuizSep 29, 2022
This Week’s Quiz
Test your knowledge of the latest jewelry news with this quick test.
Take the Quiz
GradingSep 30, 2022
GSI India Names Ramit Kapur Managing Director

Kapur has spent nearly two decades working in the gemological labs sector of the jewelry industry.

Supplier BulletinSep 29, 2022
How to Create an Engaging Experience and a Sparkling Reputation

Sponsored by Synchrony

Brought to you by
Committing to an Ethical Diamond Business

While ethical mining is essential to a diamond business, they represent only a fraction of the responsibility bestowed on jewelers.

AuctionsSep 29, 2022
See the Top Lots in Christie’s Upcoming Rare Watch Sale

According to Christie’s, the auction is its most important single-owner watch collection ever.

CollectionsSep 29, 2022
Trove Has a New Proposal: Ring Boxes

The jewelry box brand is expanding with both single and double ring boxes in red, mint green, and white.

Policies & IssuesSep 29, 2022
JA Members Return to Capitol Hill to Voice Jewelers’ Concerns

The topics up for discussion with lawmakers included inflation, rising interest rates, hiring challenges, and crime.

AuctionsSep 28, 2022
The 18-Carat ‘Fortune Pink’ Diamond Could Sell for $35M

The pear-shaped fancy vivid pink diamond will lead the Christie’s Geneva Magnificent Jewels auction on Nov. 8.

SurveysSep 28, 2022
Consumer Confidence Rises in September

U.S. consumer confidence rose for the second consecutive month as gas prices fell.

MajorsSep 28, 2022
Artistry’s 2023 Catalog Is Out Now

The jewelry catalog features an updated layout and 160 pages of product.

MajorsSep 28, 2022
JFC’s 2022 ‘Hope for the Holidays’ Program Is an Adorable Menagerie

There are three designs to choose from this year, all featuring animals drawn by kids who have had wishes granted through Make-A-Wish.

AuctionsSep 27, 2022
In Betty White’s Blockbuster Estate Sale, Jewelry Held Its Own

Fine jewelry comprised three of the auction’s top 10 lots, though it could not top her director’s chair or scripts from “The Golden Girls.”

CrimeSep 27, 2022
3 Suspects in Beverly Hills Smash-and-Grab Robbery Arrested

A total of four suspects are now in custody with police still on the lookout for the remaining two.

ColumnistsSep 27, 2022
Creative Connecting: Fun Ideas for Holiday 2022 In-Store Events

From a “whodunnit” murder mystery to a permanent jewelry party, Duvall O’Steen and Jen Cullen Williams share a wealth of suggestions.

MajorsSep 27, 2022
Stuller Releases 2 Updated Catalogs Ahead of the Holiday Season

“Mountings 2023-2024” and “Diamonds & Gemstones 2023-2024” offer a vast selection of options to create custom pieces.

Events & AwardsSep 27, 2022
ICA’s 2023 Congress Will Be Held in Dubai

The event will be hosted by the Dubai Multi Commodities Centre from Feb. 15-17.

IndependentsSep 26, 2022
Roberson’s Fine Jewelry to Close After 42 Years

The store’s liquidation sale will showcase the mix of classic and unique jewels it’s known for stocking.

CollectionsSep 26, 2022
Go ‘Inside the Dream’ of Bulgari Via a New Documentary on Amazon Prime

It follows Creative Director Lucia Silvestri as she crafts the brand’s high jewelry collections.

Recorded WebinarsSep 26, 2022
Watch: What Jewelers Should Know About Insurance

From safeguarding showcases to appraisal liability, insurance experts Mark Devereaux and Andrew Chipman share insurance tips for jewelers.

TrendsSep 26, 2022
Vahan Collabs With Wolf on a Jewelry Box

It’s the first time in 50 years the brand has made something other than jewelry.

Events & AwardsSep 26, 2022
Texas Jewelers Association Rolls Out New Format for Design Competition

The competition takes place in tandem with TJA’s annual convention, known as the Texas Jewelers Roundup.

CollectionsSep 23, 2022
Pandora Reimagines Keith Haring’s Art in New Collection

The limited-run collection features figures from Haring’s iconic street art on charms, bracelets, rings, and more.

GradingSep 23, 2022
GIA Career Fair Returns to Carlsbad

The Gemological Institute of America also announced plans for events in New York and London in 2023.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy