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Where am I? Home Mining Sector Diamonds Rio says no major loss from Zim diamond ban
"There has been an impact (on finances) but it is not significant for Rio Tinto,"
diamondsRio Says no Major Loss From Zim Diamond Ban_Global miner Rio Tinto said on Thursday it had not suffered significant loss from Zimbabwe's ban on diamond exports and the interruptions to shipments from the country were limited.

Zimbabwe banned all diamond exports on May 28 until stones from the government's controversial Marange fields were certified by industry regulators.

"The ban has caused limited interruption to shipments," a Rio spokesman told Reuters by email in response to questions. "There has been an impact (on finances) but it is not significant for Rio Tinto," he said.

"Rio Tinto is in discussions with the government of Zimbabwe and is hopeful of resolving the ban shortly."

Rio Tinto owns 78% in Murowa mine, which produced 124 000 ct last year.

Murowa, together with privately owned River Ranch, are both certified to export diamonds by the Kimberley Process (KP) certification scheme, an international initiative to ensure trade in diamonds does not fund violence.

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May 19 2012 04:44 | LAST UPDATED May 17 2012 16:37
 

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