Connect with us

Hi, what are you looking for?

Smart Success Strategy – Investing and Stock NewsSmart Success Strategy – Investing and Stock News

Editor's Pick

Rio Tinto’s Diavik Diamond Mine Back Online After Temporary Suspension

Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO) has resumed operations at its Diavik diamond mine in Canada’s Northwest Territories after temporarily suspending work earlier this month due to unstable ground.

According to Rapaport, which heard from a company spokesperson, Rio Tinto halted activities at the site on July 4, when subsidence was detected on an access road leading to the property’s A154 pit.

The company’s decision to temporarily suspend operations was taken as a precautionary measure to ensure the safety of employees. Subsidence, which involves the gradual sinking of land, can be dangerous.

“All employees are safe, but as a precautionary measure, operations underground have been temporarily suspended in the A154 pit until we have a better understanding of the cause of this event,” the Rio Tinto spokesperson said.

The company said in a July 25 interview with local media that it had collaborated closely with the Workers’ Safety and Compensation Commission, and received approval to resume work on July 24.

It has implemented multiple safety controls and continues to conduct monitoring activities.

The Diavik mine, located approximately 300 kilometers northeast of Yellowknife, is Rio Tinto’s sole diamond asset and is scheduled for closure in 2026. In Q1, the mine experienced a 22 percent year-on-year drop in output following a brief halt in production after a plane crash claimed six lives, including four Diavik employees.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com
Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    The energy revolution is here to stay, and electric vehicles (EVs) have become part of the mainstream narrative. Despite geopolitical tensions and uncertainty, the...

    Editor's Pick

    Overview Mexico’s Sinaloa state hosts a number of prolific silver and gold mines, including McEwen Mining’s (TSX:MUX) El Gallo Complex, Americas Gold and Silver’s...

    Editor's Pick

    Uranium is an important energy sector commodity, and its rising value has attracted investor interest. 2023 has seen uranium prices solidly above the important...

    Investing

    A new survey shows that the presidential race between former President Donald Trump and President Biden is thin, but Biden faces a deficit in...

    Disclaimer: smartsuccessstrategy.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 smartsuccessstrategy.com