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Articles from DIAMONDS BY CUT - ROUGH (UNCUT) (40 Articles)

De Beers will be left with one diamond mine in Canada after it announced it would close its Victor mine
De Beers will be left with one diamond mine in Canada after it announced it would close its Victor mine

De Beers to close diamond mine

De Beers Group will soon operate one less diamond mine, with news that its Victor site in Canada is set to close.

The Victor mine, which opened in 2008 and is situated in Ontario, Canada, will cease mining and production activities in the first quarter of 2019.

According to a De Beers statement, the decision was in line with the company’s original feasibility study and current mine plan. Operations would stop once the current open pit was depleted.

The statement added that the site was originally expected to produce six million carats of rough diamonds during its lifetime; however, it had produced closer to seven million carats to date.

Canadian movements

As previously reported by Jeweller, De Beers’ Snap Lake mine in Canada has been inactive since 2015.

The site, which began production in 2008, was said to be the company’s first diamond mine located outside of Africa and Canada’s first ‘completely’ underground mine.

It was scheduled to operate until 2028; however, was placed into an ‘extended care and maintenance’ phase in December 2015 following a review of the mine’s profitability.

De Beers operates another site in Canada called Gahcho Kué, which is a joint venture between De Beers and Canadian diamond mining company Mountain Province Diamonds.

The remote site opened in September 2016 and is said to be the largest new diamond mine in more than a decade – it comprises three open pits and is expected to produce approximately 54 million carats of rough diamonds over its lifetime.

De Beers has operated in Canada since 1961. It also has mines in Namibia, Botswana and South Africa.

More reading
De Beers profits double in 2016
De Beers opens world’s largest diamond mine
Another De Beers diamond mine for sale
Market forces De Beers to sell, suspend diamond mines

Saturday, 19 January, 2019 05:41am
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