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Rio Tinto's Argyle diamond mine in the Kimberley.

Argyle losing at the margins

A dispute over the future of the failed Ellendale mine might not be the worst event in the downturn hurting the state’s once-brilliant diamond industry, because the much bigger Argyle mine is also facing a fresh threat to its future.

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Comments

Karnup
All mines have an economic life span - its just not easy to predict when they have reached the end. Rio invested huge amounts on the underground expansion with a view that they could stretch it out but it looks, with the wisdom of hindsight, as if that was more hope than reality. It is not a pretty site to watch the slow death of a once leading edge operation. Argyle has led the way on a number of fronts over its life. It was the very first major FIFO operation in Australia, and similarly its community relationships achievements where ground breaking. Argyle introduced a range of new technologies that have been game changing for the operation. I hope it gets to die with dignity unlike its smaller cousin at Ellendale.

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Total Shareholder Return as at 31/10/16

1 year TSR5 year TSR
322ndRio Tinto12%-1%
424thWestpac-2%13%
443rdTelstra-4%21%
462ndCommonwealth Bank-7%14%
546thWoolworths-19%-1%
739 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

13/12/13
$0 Bought
13/12/13
$90k Sold
03/05/13
$1k Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

1st↑Woolworths$61,149.4m
2nd-Rio Tinto$49,225.3m
5th-Commonwealth Bank$27,005.0m
6th-Telstra$26,607.0m
7th↑Westpac$21,642.0m
77 listed non wa companies ranked by revenue.
Source: Morningstar

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