Rio outlines diamond project

Denver — Rio Tinto (RTP-N) has tabled a new resource estimate for the Murowa diamond project in south-central Zimbabwe.

A feasibility study confirms the presence of mineralization in three kimberlites totalling 16.5 million tonnes at 0.9 carat per tonne.

Rio Tinto anticipates mining 500,000 tonnes per year, with the possibility of expansion. The company is still evaluating requirements to proceed with the project, and it has not released capital cost figures.

Rio Tinto owns a controlling interest in the property, situated 40 km from Zvishavane. A half-interest is held by Rio Tinto, with the other half held by Rio Tinto Zimbabwe, which is 56%-owned by the London-based parent.