Summary Box: Rio Tinto may drop diamond interests

AP News
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Posted: Mar 27, 2012 1:17 PM
Summary Box: Rio Tinto may drop diamond interests

BYE-BYE BLING? Mining company Rio Tinto PLC is looking at options for disposing of its diamond businesses. The company operates diamond mines in Australia, Canada and Zimbabwe, and has a diamonds project in India.

QUALITY VS. STRATEGY: The chief executive of Rio Tinto's diamonds and minerals division says diamonds are a high-quality business with growing demand, but the company is reviewing whether diamonds fit its strategy of operating large, long-life, expandable assets.

STAY TUNED: Rio Tinto did not announce a deadline for a decision.