New De Beers Mine in Canada Begins Production

It is the largest diamond mine to open in the last 13 years

Gahcho Kué, De Beers’ newest mine in Canada, begins production today.

It is the largest diamond mine to open in the last 13 years.

The mine is a joint venture between 51 percent owner De Beers Group and 49 percent owner Mountain Province Diamonds. It is expected to produce more than 54 million carats a year.

“That the mine has reached this landmark, on budget and ahead of schedule, is testament to the partnerships that have worked together since construction began,” said De Beers CEO Bruce Cleaver in a statement. “It’s a result of these partnerships that the mine is set to deliver socioeconomic benefits of more than 5 billion [Canadian dollars, equivalent to $3.7 billion] to the economy of the Northwest Territories over its lifetime.”

(Photo courtesy of De Beers Group)