London, England — 24 June 2013 – Leading international mining group Rio Tinto has decided to retain its diamonds businesses, after concluding a strategic review which considered a range of options, including potential divestment.
Rio Tinto operates a fully integrated diamonds business from exploration through to sales and marketing. It is one of the world’s major diamond producers through its 100% ownership of the Argyle mine in Australia, 60% of the Diavik mine in Canada and a 78% interest in the Murowa mine in Zimbabwe.
“The medium to long-term market fundamentals for diamonds remain robust, fuelled by growing demand for luxury goods in Asia and continuing strong demand in North America,” said Rio Tinto Diamonds & Minerals chief executive Alan Davies.
“We have valuable, high-quality diamonds businesses that are well positioned to capitalise on the positive market outlook,” he emphasised..
“After considering a number of alternative strategic ownership options it is clear the best path to generate maximum value for our shareholders is to retain these businesses,” Davies assured.
Source: Rio Tinto. For more information, click here.