In a recent statement, Rio Tinto noted that the estimated mineral resources, that is, the amount of material that can be recovered for economic gain, have been drastically reduced in the past year. The company in 2016 reduced the estimate of this indicator by 66% to 15 million tons.
In Rio Tinto said that this is due to constant revision options for expansion of the project life cycle.
"It also limits the creative assets of the project before a known volume of mineralization that may be developed, mining and processing within the specified service life", - added to the mining company.
Meanwhile, Rio Tinto said that production at the Argyle diamond will continue until 2021.
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Standard & Poor's rating agency (S & P) has lowered the forecast for the development of Botswana's economy to negative amid concerns that the weakening of the diamond industry may be "structural, rather than cyclical."
Rapaport with reference to the S & P report says that this South African country highly susceptible to poor performance of the diamond sector, as it provides almost a third of its gross domestic product, while ensuring that one-third of tax revenues in its budget and more than two-thirds of the country's exports.
"The Bole weak is the world economy due to the slowdown of China's GDP and lower pricing reserves in the world's key producers of diamonds, the worse the performance will be in demand and consumption of such products," - noted in the S & P statement.
Of Debswana, a leading producer of diamonds in Botswana, recorded production decline by 16% in 2015 to 20.4 million carats against 23.3 million carats last year.
The volume of Botswana diamond production peaked at 34 million carats in 2007 and provided about 20% of GDP and 65% of foreign exchange earnings in its budget.
Recent data bank of Botswana showed that diamond exports from the country in the first quarter of 2016 decreased by 17% compared to the same period last year, to $ 817.6 million.
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