Lacking the carat, Rio sticks with its diamonds

With no good options for the divestment of its diamond business, Rio Tinto was left stuck between the gemstones and a hard place - and chose the former.

When Rio Tinto put its diamond business on the market over a year ago it looked like a sensible decision to cash out a non-strategic suite of assets within its portfolio. It looked even more compelling once Sam Walsh was appointed chief executive earlier this year and made it clear he wanted to up the urgency in divesting non-core assets.

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