Australian miner Rio Tinto reported a double-digit increase in diamond output in 2022, bolstered by its takeover of the Diavik diamond mine in Canada.

Diamond production last year reached 4.65 million carats, up 21 per cent from 3.84 million carats in 2021 while fourth-quarter output rose to 1.31 million carats from 1.15 million carats in Q4 2021.

“At Diavik, our share of carats was 14 per cent higher than the fourth quarter of 2021 due to the benefit of our increased share of production since taking 100 per cent ownership of Diavik from November 2021, partly offset by lower carats recovered due to lower throughput,” noted Rio Tinto.

The company became the sole owner of Diavik after acquiring the 40 per cent stake held by Dominion Diamond Mines in Diavik. 

With production at Diavik expected to end in 2025, its high-end, predominantly white gem-quality diamonds with Canadian provenance continue to enjoy solid demand globally.

Rio Tinto has operated Diavik since 2003. Located approximately 300 km north-east of Yellowknife, the mine employs over 1,100 employees, of which 17 per cent are Northern Indigenous people.