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Rio Tinto to retain diamonds businesses

25 Jun 2013

Rio Tinto has decided to retain its diamonds businesses after concluding a strategic review which considered a range of options, including potential divestment.

Rio Tinto Diamonds & Minerals chief executive Alan Davies said, "The medium- to long-term market fundamentals for diamonds remain robust, fuelled by growing demand for luxury goods in Asia and continuing strong demand in North America.

"We have valuable, high-quality diamonds businesses that are well positioned to capitalise on the positive market outlook.

"After considering a number of alternative strategic ownership options it is clear the best path to generate maximum value for our shareholders is to retain these businesses."