Rio Tinto Opens New Pipe at Diavik

RAPAPORT... Rio Tinto has begun mining the A21 pipe, an extension at itsDiavik asset that should allow the company to sustain production levels overthe next four years. The project took four years to construct at a cost of $350 million.A21 is the fourth pit at Diavik, which is located in Canada's NorthwestTerritories. The company began processing ore from the pipe in March, andexpects to reach full production during the fourth quarter. "This investment...reflects the strong outlook we see for thediamond industry," Arnaud Soirat, CEO of Rio Tinto Copper and Diamonds, saidMonday. "It is a remarkable achievement to deliver this project safely andahead of time in such a challenging environment, positioning Diavik to continuemeeting the demand for its outstanding diamonds." Rio Tinto owns a 60% share in Diavik, with the remaining 40% heldby Dominion Diamond Mines. Image: Rio Tinto