Following the March closure of its Diavik diamond mine in Canada, Australian mining giant Rio Tinto retrieved 33,000 carats of diamonds from remaining ore during the second quarter of 2026—a 97% decline both quarter-on-quarter and year-on-year. Total production for the first half of the year decreased by 51% compared to 2025, reaching 1.1 million carats. However, the company plans to continue processing and selling its final inventory through at least the end of 2026. As Diavik was Rio Tinto's last active diamond mine—following the 2020 closure of Australia's Argyle mine and the 2023 sale of its stake in Canada's Fort à la Corne project—the wind-down reflects the company's broader strategic shift toward metals and industrial minerals, with its primary remaining diamond footprint limited to an exploration program in Angola.
