Rio Tinto Diamond Sales Up 9% in H1 2025 Amid Market Recovery and Production Surge
Rio Tinto reported a 9% increase in diamond revenue for the first half of 2025, driven by a rebound in the rough diamond market and a sharp rise in production at its Diavik mine in Canada.
Sales from Diavik totaled $162 million for the six months ending June 30, up from the same period last year, the company announced on Wednesday.
Despite the revenue growth, underlying earnings before interest, taxes, depreciation, and amortization (EBITDA) showed a loss of $55 million—an improvement from the $63 million deficit reported in the first half of 2024.
While the mining giant did not provide detailed commentary on the results, the figures suggest a modest recovery in the rough diamond market.
Retailers are beginning to replenish polished inventories in anticipation of the upcoming holiday season, aiming to secure supply ahead of potential U.S. tariffs.
Rio Tinto also benefited from a significant increase in production. Rough diamond output surged 51% year over year to 2.2 million carats.
This jump reflects a return to normal operations following a temporary suspension in early 2024, when mining at Diavik was halted after a fatal plane crash involving mine employees.
The company’s improved results highlight early signs of stability in the diamond sector after a challenging period marked by soft demand and operational setbacks.
