Rio CEO wants to expand in diamond mines rather than divest

When Rio Tinto Group chief Jean-Sebastien Jacques took the reins of the world’s second-biggest mining company in July, there was speculation he’d sell a host of less desirable mines and smelters. The firm’s diamond business, underpinned by two underground mines, was considered by some analysts as a candidate to be divested or spun out, particularly after it was combined with the copper unit.