Markdown Sale Of Diamond Mines By Rio

Diversified giant Rio Tinto has launched a strategic review of its diamond business

, which would include potentially selling some of its assets in Australia, Canada, and Zimbabwe.We have a valuable, high-quality diamonds business, but given its scale we are reviewing whether we can create more value through a different ownership structure, Rio Tinto CEO for diamonds and minerals, Harry Kenyon-Slaney, said on Tuesday.He added that the group regularly reviewed its business to ensure that it remained aligned with its strategy of operating large, long-life, expandable assets.Like BHP Billiton, which also announced a review of its diamond business last year, Rio Tinto is investing billions on its iron-ore division, which is its main earnings driver.The diamonds and minerals division contributed roughly 5% to Rio Tintos 2011 revenue, bringing in $3.2-billion.Rio operates three diamond mines, including the Argyle mine, in Australia, the Diavik mine, in Canada in which it holds a 60% interest, and Murowa operation, in Zimbabwe in which it holds a 78% interest.The company also has full ownership of an advanced diamonds project in India.Rio is selling its share of the production from its three operating mines through its sales and marketing headquarters in Antwerp, with representative offices in Mumbai, Hong Kong and New York. It also operates a niche cutting and polishing factory in Perth for the rare pink diamonds from its Argyle mine.This process may take some time. Were committed to keeping stakeholders informed about any key developments, and in the meantime are reassuring employees and the governments in the states and countries where we operate that it is very much business as usual, said Kenyon-Slaney.In November, BHP Billiton announced that it was reviewing its diamond business in Canada. It agreed to sell its stake in the Chidliak exploration project to its partner Peregrine Diamonds. The company is still reviewing its options for its 80% stake in the Ekati mine. As the professional manufacturer of complete sets of mining machinery, such as Screw classifiers,Primary jaw crusher,Rock crushing plant, Henan Hongxing is always doing the best in products and service.Cement plant:http://www.crusher-machine.com/38.html stone production line:http://www.crusher-machine.com/

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