https://www.miningweekly.com

Rio Tinto considers exiting Canada diamond project, says partner

29th June 2022

By: Mariaan Webb

Creamer Media Contract Publishing Editor

     

Font size: - +

Diversified miner Rio Tinto has exercised its voting power to place the Star-Orion South diamond project, in Saskatchewan, Canada, on care-and-maintenance, its joint-venture (JV) partner said on Wednesday.

Star Diamond said that, subject to fulfilling its existing obligations, Rio Tinto would not commit additional capital to the project during 2022 beyond what was necessary for care-and-maintenance.  

Rio Tinto also advised Star Diamond during Tuesday’s JV management committee meeting that it planned to conduct a near-term review of its alternatives regarding the project, including its potential exit.

“The board of directors of Star Diamond is disappointed by these decisions. Star Diamond intends to work with Rio Tinto in assessing alternatives regarding the project,” the Canadian junior said.

Star Diamond noted, however, that remained pleased with the results of the comprehensive studies and bulk sampling programme that had been completed to date at the project.        

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Advanced Fire Suppression Technologies
Advanced Fire Suppression Technologies

Established on 1 March, 2000, by Barries Barnard, Advanced Fire Suppression Technologies (AFST) and the Advanced Group stands as Sub-Saharan...

VISIT SHOWROOM 
Virtual Gas Network (Pty) Ltd
Virtual Gas Network (Pty) Ltd

Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.061 0.086s - 111pq - 2rq
Subscribe Now