De Beers Receives Permission to Flood Snap Lake Mine
June 30, 16
(IDEX Online News) – De Beers Canada announced that it has received approval to flood the tunnels at its Snap Lake underground mine in Canada’s Northwest Territories, according to a report on Retuers.com.
By flooding the mine tunnels, De Beers will be able to cut costs to pump out water and reduce environmental risk, according to its extended care and maintenance plan.
Snap Lake was shuttered amid worsening global diamond market conditions and had made no money since production began in 2008. The mine produced 1.2 million carats in 2015 and had been due to be in operation until 2028.
De Beers Canada operates the Victor diamond mine in Ontario, which is set to close in 2018 unless an expansion project proceeds, and is in the final stages of construction of the Gahcho Kué mine with 49 percent owner Mountain Province Diamonds Inc.