Rio cut takes the shine off Argyle

Written on the 6 March 2017

Rio Tinto has thrown fresh doubt on the future of its Argyle mine in the Kimberley, slashing the resources at the iconic diamond mine as part of a review of its future.

The updated reserves and resources statement, released by Rio along with its annual report on Thursday, shows the global mining giant has cut Argyle's resources by two-thirds from 44 million tonnes of ore at the end of 2015 to 15 million tonnes this year.

Rio said the cut "follows the ongoing review of potential mine-life extension options and restricts reported resources to that component of the known mineralisation which may be developed, mined and processed within the current operational mine life".

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Source: thewest.com.au