Rio Tinto’s 187.7-carat Diavik Foxfire diamond is set to headline the Israel Diamond Exchange (IDE) third International Rough Diamond Week. Discovered last fall in the Diavik Diamond Mine in Canada’s Northwest Territories, the Diavik Foxfire is considered the largest rough diamond ever found in North America.
Mining giant Rio Tinto has given away its stake in the Pebble Mine project. “By giving our shares to two respected Alaskan charities, we are ensuring that Alaskans will have a say in Pebble’s future development and that any economic benefit supports Alaska’s ability to attract investment that creates jobs,” said Rio Tinto chief executive, Jean-Sebastien Jacques.
Diamonds may be forever, but BHP Billiton’s and Rio Tinto’s place in the industry may not be. In what seemed like a one-two punch, both mining companies announced recently they were looking to offload their diamond businesses, which include Canada’s Ekati and Diavik mines, respectively.
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