Rio's Argyle diamond mine in the Kimberley.

Rio Tinto’s diamond float moves to lift-off

Western Australia’s big Argyle diamond mine appears destined to shine as a key part of a new company being packaged by mining giant Rio Tinto for listing on the London stock exchange.

Other mines and exploration assets in Rio Tinto’s worldwide diamond portfolio will also be tipped into a float which industry sources say will emerge as a multi-billion dollar specialist diamond business.

Finding a way out of diamonds, which sit oddly alongside Rio Tinto’s speciality of bulk and base metal commodities such as iron ore, coal, copper and aluminium, has been on the company’s agenda since late last year.


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Total Shareholder Return as at 31/10/16

1 year TSR5 year TSR
249thBHP Billiton29%0%
339thRio Tinto12%-1%
438thNational Australia Bank-0%12%
465thCommonwealth Bank-7%14%
706 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$0 Bought
$90k Sold
$1k Bought
Total value as at the date of the transaction
Source: Morningstar


2nd-Rio Tinto$49,225.3m
3rd↓BHP Billiton$42,224.6m
4th-National Australia Bank$27,213.0m
5th-Commonwealth Bank$27,005.0m
79 listed non wa companies ranked by revenue.
Source: Morningstar

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