https://www.miningweekly.com

Rio Tinto exploring commercial options for idled Canada diamond project

24th October 2022

By: Creamer Media Reporter

     

Font size: - +

Global mining major Rio Tinto is exploring commercial options for its Fort à la Corne (Falcon) joint venture (JV) project, in Saskatchewan, partner Star Diamond said on Friday.

Citing a Rio Tinto Canada memo, Star Diamond said that the project continued to be on care and maintenance and that the major was “actively looking” to minimise costs.

Rio Tinto Canada also stated that it intended to fully de-mobilise the leased on-site camp in early 2023.

Rio Tinto Canada exercised its voting power in June this year to place the project on care and maintenance through December 31, 2022. At that time, Rio Tinto Canada also advised that, subject to fulfilling its existing obligations, it did not intend to commit additional capital to the project during 2022 beyond what is necessary for care and maintenance.

At the time, the diversified major also advised that it was conducting a review of its alternatives regarding the project, including its potential exit.

Star Diamond said that it was working with Rio Tinto Canada in assessing alternatives regarding the project.

“These discussions remain at an early stage and there is no certainty that any agreement will be reached between Star Diamond and Rio Tinto Canada regarding any such potential arrangements.”

Star Diamond and Rio Tinto Canada at the end of last year made peace over the Falcon JV following a protracted period of disagreement.

Edited by Mariaan Webb
Creamer Media Contract Publishing Editor

Article Enquiry

Email Article

Save Article

Feedback

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

Showroom

Hanna Instruments (Pty) Ltd
Hanna Instruments (Pty) Ltd

We supply customers with practical affordable solutions for their testing needs. Our products include benchtop, portable, in-line process control...

VISIT SHOWROOM 
SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 

Latest Multimedia

sponsored by



A video round up of this week’s magazine, highlighting our cover story, features and Business Leader.
Magazine round up | 12 June 2026
12th June 2026

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:0.039 0.073s - 111pq - 2rq
Subscribe Now