Rio Tinto has announced a significant rebound in diamond production at its Diavik mine, the company’s sole remaining diamond asset, with output surging 76% year-on-year in the second quarter of 2025
According to the mining giant’s latest production report released on July 16, Diavik yielded 1.24 million carats of rough diamonds during the three months ending June 30. This follows strong performances in the preceding quarters, with Q1 2025 output up 27% to 942,000 carats, and Q4 2024 production rising 18% to 775,000 carats.
The recent uptick marks a recovery from a challenging 2024, during which annual output fell 17% to 2.8 million carats. That decline had been largely attributed to a transition to underground mining at the A21 pipe and a temporary suspension of operations following a tragic aircraft accident in January 2024 that claimed the lives of six people.
With the first half of 2025 now delivering 2.18 million carats—up 34% compared to 1.44 million carats during the same period last year—Rio Tinto appears to be on solid footing as the Diavik mine approaches the end of its commercial life.
Located approximately 200 km south of the Arctic Circle in Canada's Northwest Territories, Diavik became fully owned by Rio Tinto in November 2021, after it acquired the remaining 40% stake from Dominion Diamond Mines. The mine is expected to cease commercial production in early 2026.
The closure of Diavik will mark the end of Rio Tinto's direct involvement in diamond mining, following the 2020 shutdown of the iconic Argyle mine in Western Australia, once famed for its pink diamonds.