Global mining giant Rio Tinto has reported improved performance from its Diavik diamond mine in Canada for the first half of 2025, with diamond sales rising and net losses narrowing.
For the six months ending 30 June 2025, Diavik generated $162 million in revenue, marking a 9% increase compared to the same period last year. The mine’s losses reduced to $55 million, down from $63 million—a 13% improvement year-on-year.
The growth comes on the back of a significant spike in production. Earlier this month, the company announced a 76% increase in output at the Diavik site during the second quarter (April–June 2025), producing 1.24 million carats of rough diamonds.
Despite the positive diamond performance, Rio Tinto’s overall revenue across its global operations fell by 2% to $6.9 billion in the first half of the year. The company operates in 35 countries, with interests spanning a wide range of metals and minerals.
Located in the remote Northwest Territories, around 200 kilometres south of the Arctic Circle, Diavik has been wholly owned by Rio Tinto since November 2021, following its acquisition of the remaining 40% stake from Dominion Diamond Mines. Commercial production at the site is expected to conclude in early 2026.
Diavik remains Rio Tinto’s sole diamond operation following the closure of its Argyle mine in Western Australia in late 2020 after nearly four decades of production.