According to the company, a wholly-owned Argyle (Argyle) in Australia produced 3.016 million carats, which is 11% lower than the figure achieved in the same period in 2016. The fall was due to the processing of smaller volumes of ore and lower diamond content in the rock.
Diavik mine (Diavik) in Canada, where the company owns a 60 percent share of production amounted to 1.136 million carats, which is only slightly below the 1.131 million carats produced the first quarter of 2016. Rio Tinto reported that lower processing levels were offset by a higher content of precious stones in the ore.
The company also noted that the development of kimberlite pipe A21 is still carried out in accordance with the schedule.
Rio Tinto said that the outlook for diamond production in 2017 remains unchanged at the level of 19-24 million carats.
Pandya noted that uncertainty about the tax laws in the country has led to an increase in legal costs and ultimately impact on the ease of doing business in India. As a result, the cash flow in competing countries, he said.
ReplyDeletePandya also urged the Government to include a segment of gems and jewelry in the scheme of the interest rate subsidy (Interest Subvention Scheme) and in the export of goods from India scheme (Merchandise Exports from India Scheme, MEIS ). He noted that the sector of gold jewelry has the potential, and offered to connect jewelers to participate in the government scheme of gold monetization. He also said that the current two-percent difference in the import duty on dore and gold bullion is too high and should be reduced to 0.25%.
The Minister assured the industry representatives that listened to their suggestions and that soon the government will consider each of them.