Rio Tinto recorded a modest increase in diamond production during the first quarter of 2026, with total output reaching 1.04 million carats—an 11% rise compared to the same period last year. This growth was largely supported by operations at its Diavik mine in Canada, which played a central role in the quarter’s performance.
However, the numbers also reflect a transitional phase for the company. On a sequential basis, production slipped by 6%, highlighting the impact of Diavik’s gradual shutdown and shifting operational priorities. The mine, which has been a significant asset in Rio Tinto’s diamond business, delivered its final output during the quarter, marking the beginning of its closure phase.
While diamonds account for a relatively small portion of Rio Tinto’s overall portfolio, the winding down of Diavik represents a notable shift. It signals the conclusion of one of the company’s key sources of rough diamonds and underscores a broader realignment within its mining operations.