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Rio Tinto reviewing sale of diamond mines

Louie Palu/Louie Palu / The Globe and Mail

Global miner Rio Tinto PLC said Tuesday it has launched a review of its diamond operations and might sell the mines as it moves out of that business.

The company, which operates three diamond mines, including one 300 kilometres northeast of Yellowknife, unofficially encouraged bids in a news release.

Rio Tinto did not announce a deadline for a decision.

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The announcement marks the second time in recent months a miner has said it is looking at selling its Canadian diamond operations.

Late last year, Anglo-Australian mining giant BHP Billiton said it was selling its stake in two Canadian diamond mines.

Rio Tinto also owns diamond mines in Australia and Zimbabwe.

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