Canada's Diamond Production Hits Record High
October 23, 23
(IDEX Online) - Production at Canada's three diamond mines hit a record high of US $1.58bn (CAN $2.17bn) in 2022, according to the government department Natural Resources Canada (NRCan).
That's a 28 per cent increase for Ekati, Diavik and Gahcho Kue, all located in Northwest Territories.
But it's unlikely the figure will be exceeded. Diavik, operated by Rio Tinto, is ramping down some operations ahead of its expected closure in 2026.
Ekati was bought earlier this year by Australia-based Burgundy Diamond Mines. Mountain Province and De Beers Canada jointly operate the Gahcho Kue mine.
Owners of both mines are exploring ways to extend their lives, but Canada currently has no new deposits in prospect.
Caroline Cochrane, Premier of the Northwest Territories, told the Cabin Radio website: "It's hard to point to any part of the mining sector immediately ready to take over, as diamonds decline."
Pic shows Diavik mine, courtesy Rio Tinto