Harry Winston says Diavik Diamond Mine full-year target production 7.1M carats Diavik Diamond Mine's full-year target production is expected to be approximately 7.1M carats from the mining of 2.1M tonnes of ore and the processing of 2.0M tonnes of ore. The decrease in carats from the original plan is primarily due to deferring the processing and recovery of lower value carats from the re-processed rejects in favour of processing underground ore containing higher valued carats. A new mine plan and budget for CY13 is under final review by Rio Tinto (RIO) and the company. The plan for CY13 foresees Diavik Diamond Mine production of approximately 6M carats from the mining and processing of approximately 1.6M tonnes of ore with a further 0.2M tonnes processed from stockpiled ore from CY12. Mining activities will be exclusively underground. Included in the estimated production for CY13 is approximately 0.6M carats from RPR and 0.1M carats from the improved recovery process for small diamonds.
Rio Tinto halts progressive dividend policy due to market uncertainty With the continuing uncertain market outlook, the board believes that maintaining the current progressive dividend policy would constrain the business and act against shareholders' long-term interests. The company is therefore replacing the progressive dividend policy with a more flexible approach that will allow the distribution of returns reflect better the company's position and outlook. For 2016, Rio Tinto intends that the full year dividend will not be less than $1.10 per share.