Rio wields the diamond blade

Rio Tinto has joined rival BHP in reviewing its diamond operations and it will be interesting to see whether anyone seeks to put both companies' diamond interests together to create a sizeable new business.

About three months after BHP Billiton announced it was reviewing the future of its diamonds business with a view to selling it, Rio Tinto has followed suit with its own strategic review.

The decisions of both of the big miners to question the future of diamonds within their portfolios might, at face value, appear odd.

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