Yes Argyle (Rio Tinto) did diversify its diamond portfolio. After Argyle they had Ellendale for many years (Wasn't the scale they needed), then Merlin mined for 4 years mined, then Diavik in Canada (still going), Murowa in Zimbabwe operated for around 10 years then Bunder in India (not financial). They have a team still looking. DeBeers, Alrosa, Gem, Petra have all diversified.
Mines have a finite resource if you dont diversify you cease to exist as a company, so this parrot says diversification is good!
LOM Price at posting:
25.0¢ Sentiment: None Disclosure: Not Held
