Rio Tinto's total diamond production for the fourth quarter of 2008 totaled 6,854,000 carats, down 12 percent from the 7,807,000 carats produced during the same quarter in 2007. Rio Tinto's overall diamond production for 2008 reached 20,816,000 carats, marking a 20 percent decline compared to 26,023,000 carats produced in 2007.

Diamond production at Rio Tinto's 100 percent owned Argyle mine in Australia totaled 5,253,000 carats for the fourth quarter of 2008, marking a 12 percent decline compared to the same period in 2007 when production reached 5,995,000 carats. However, the fourth quarter production increased 13 percent compared to the third quarter of 2008. This is attributed to improved access to the higher grade areas of the pit. Argyle's yearly production for 2008, at 15,076,000 carats, was down 20 percent compared to the 18,744,000 carats produced during 2007.

At Rio Tinto's 60 percent owned Diavik mine in Canada's Northwest Territories, diamond production for the fourth quarter of 2008 totaled 1,558,000 carats, marking a 12 percent decline from production during the fourth quarter of 2007. This is primarily a result of the overall reduction in grade that commenced in that fourth quarter of last year.

"Lower production has followed the introduction of low grade, mud rich ore from the opening levels of the A418 pipe, as well as a higher volume of A418 ore being processed due to the instability of the A154 pit wall," says a company spokesman. The fourth quarter production marked a 12 percent increase over the third quarter 2008 production. Diavik's diamond production of 5,535,000 carats in 2008 marked a 23 percent decrease compared to the 7,166,000 carats produced in 2007.

Rio Tinto's 78 percent owned Murowa mine in Zimbabwe produced 43,000 carats in the fourth quarter of 2008 and 205,000 carats for the full year.

"Production for the quarter was in line with expectations," says Chief Executive Tom Albanese. "We are taking firm action in response to the global economic downturn and, given the resilience of Rio Tinto's low cost assets, expect to remain well positioned when recovery comes."