Sunday, May 26, 2013
Rio Tinto Now Selling Diamonds At Auction, As Well
Mining giant Rio Tinto announced that it will now offer a second mechanism for purchasing the rough diamonds that it extracts from the Diavik mine in northern Canada, according to Diamond World: public auctions. Until now, Rio only sold the diamonds it mines in Diavik to a specific select group of diamond buyers, and these will still account for the majority of Rio diamonds purchased. But the newly introduced electronic sales platform will allow for a longer list of diamond companies to get access to the stones.
The new sales system has already been used once successfully, in April. There was no word as to whether the new option will apply to the diamonds that Rio produces from its other holdings: the Murowa mine in Zimbabwe and the Argyle mine in Australia.