Rio Tinto Takes Full Control of Canada’s Biggest Diamond Mine

The open pit stands at the Diavik Diamond Mine in the North Slave Region of the Northwest Territories, Canada.
Photographer: Ben Nelms/Bloomberg

Have a confidential tip for our reporters? Get in Touch

Before it’s here, it’s on the Bloomberg Terminal

November 18, 2021 at 9:57 AM EST

This article is for subscribers only.

Rio Tinto Group has taken full control of Canada’s biggest diamond mine after agreeing to buy the stake previously owned by billionaire Dennis Washington.

Rio, which already owned 60% of the Diavik mine, said Thursday it had bought the share previously held by Dominion Diamond Mines. Dominion filed for insolvency protection in early 2020 as the pandemic brought the global diamond trade to a halt.

Have a confidential tip for our reporters? Get in Touch

Before it’s here, it’s on the Bloomberg Terminal

LEARN MORE