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Rio Tinto has a 60 per cent stake in the Diavik project in Canada

Local diamonds not cutting it

The small diamonds produced in WA are falling out of favour with buyers, leading to questions about the industry’s future.

RIP Western Australia’s diamond industry, 1979 to 2017, once brilliant, died from low prices and high costs.

That epitaph is yet to be written, but unless there is a dramatic improvement in the global market for diamonds, it could be just a matter of months before it is.

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Total Shareholder Return as at 31/10/16

1 year TSR5 year TSR
385thRio Tinto12%-1%
486thWestpac-2%13%
498thTelstra-4%21%
509thCommonwealth Bank-7%14%
580thWoolworths-19%-1%
727 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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