Tue, 27 Mar 2012 07:47:55 GMT
Rio Tinto to abandon diamond operations
Rio Tinto is reviewing its diamond operations and is looking for the options to cease its activities in three mines in Canada, Australia and Zimbabwe. The diamond business contributes below 5% of the total company's revenues, confronting to the company's strategy that implies investing heavily in expandable and long-life assets, said Harry Kenyon-Slaney, chief executive of diamonds and minerals division