Argyle diamond mine open in WA
It says the mine will extend Argyle's overall mine life until at least 2020. "That will help to feed the global deficit in diamonds around the world," Argyle managing director Kim Truter told a group of around 160 guests at the opening at Argyle on Tuesday.
Mr Truter said since the mine opened in 1983 it had produced 800 million carats, or around 160,000 tonnes of diamonds, which are sold to Japan, the US, India and China as well as Australia. Underground exploration at Argyle began in 2004 as the open cut resource began to diminish.
Frequently Asked Questions about this Article…
The new Argyle underground diamond mine is a $2.2 billion project developed and opened by Rio Tinto in the remote East Kimberley region of Western Australia. Rio Tinto described the opening as a major milestone for the company.
Rio Tinto says the new underground operation at Argyle will produce up to 20 million carats a year.
The underground project will extend Argyle's overall mine life until at least 2020, according to company statements at the opening.
Since opening in 1983, Argyle has produced about 800 million carats of diamonds — roughly 160,000 tonnes — that have been sold to markets around the world.
Argyle diamonds are sold to buyers in Japan, the United States, India and China, as well as within Australia.
Underground exploration at Argyle began in 2004 as the open-cut resource started to diminish, prompting the shift to an underground operation to sustain production.
Rio Tinto calls the $2.2 billion underground mine a major milestone that will help feed the global deficit in diamonds, highlighting both its strategic importance to the company and its potential impact on supply.
Investors tracking diamond supply should note that the Argyle underground project is designed to add up to 20 million carats per year and extend mine life to at least 2020, which Rio Tinto says will help address a global diamond supply deficit.
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