Rio Tinto has unveiled a list of 17 diamond manufacturers that have received long-term contracts to buy rough diamonds from the metals and mining company this year. One of the clients that made the list, known as a Select Diamantaire, is Crossworks Manufacturing, producer of branded Canadian diamonds.
The 17 diamond manufacturers have been listed on Rio Tinto’s website but the company revealed that the final decision for its 2015 and 2016 supply period will be made before the end of the first half of this year.
According to Patrick Coppens, general manager of sales at Rio Tinto Diamonds, a minimum of 70 per cent of the company’s diamond are made available to its list of Select Diamantaires.
Earlier reports from Rio Tinto showed that production from its three diamond mines has decreased by 14 percent year on year to 13.872 million carats as a result of a new transition from open-pit to underground mining at its Argyle mine in Australia. Rio Tinto also owns a 60 per cent stake in the Diavik mine in Canada while Dominion Diamond Corporation owns the rest.
The Select Diamantaires will be supplied from Diavik for a total of two years and a total of three years from Argyle. Other names on the Select Diamantaires list according to Rio Tinto’s website include Dimexon Diamonds Ltd., Gemmata N.V., Interjewel Pvt. Ltd., IDH Diamonds N.V., Venus Jewel, Signet Direct Diamond Sourcing Ltd., and Sheetal Group. CJ