CAPITAL MARKETS

Diavik double-up for Rio Tinto

THE start-up of a big diamond mine is an unusual event. Few deposits turn out to be valuable enough to make the transition from project to producer, but last January proved to be one of those rare moments as Rio brought on stream its US$900 million Diavik mine in northern Canada.

Stephen Bell
Diavik double-up for Rio Tinto

Diavik is the second development spawned from that country’s 1990s diamond rush started by geologist Chuck Fipke. The first was BHP Billiton’s Ekati mine, a few kilometres down the road, which opened in...

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