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Rio Tinto execs visit Indian cutting centers

August 14, 2009

Mumbai, India--Regional diamond-cutting centers in Surat and Bhavnagar were the focus of attention this week for the Rio Tinto executives currently visiting the company's operations in India.

According to a press release from Rio Tinto, the executives visited both centers and met with key manufacturers that process production from Rio Tinto's Argyle Diamond Mine in Western Australia.

Rio Tinto Diamonds Managing Director Bruce Cox, who led the delegation, said in the release said he was delighted to visit the "heartland" of the Argyle manufacturing centers in the Indian state of Gujarat.

"The value addition undertaken here is critical to the successful distribution of our diamonds through the pipeline," he said. "We are committed to working together on regional initiatives that will ensure profitable growth for our customers and our customers' customers."

During the trip, the delegation attended the opening of a new trading office in Bhavnagar for long-standing customer Dianco, from the D. Navichandra group.

"Following the success of our Surat office, we are very pleased to now be operating directly from Bhavnagar," Dianco principal partner Manoj Mehta stated in the release. "This positions us even closer to our customers and the direct distribution channels into the cutting centers of India."

Rio Tinto executives also met in the Surat trading office of Diambel NV, where they discussed the future of the Argyle mine, the current transition to underground mining and the resulting extended mine life through to at least 2018.

"As a specialist distributor and manufacturer of Argyle diamonds, this has been an important meeting of minds and has allowed us to discuss future opportunities, face to face with Rio Tinto Diamonds," Paresh Sanghvi, who heads up Diambel's rough-diamond sales, said in the release. "It is very important that we work together to ensure the future for the Indian cutting and polishing industry."
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