The world’s largest and richest new diamond mine is set to open in Canada’s Northwest Territories. De Beers Canada Inc. – together with Mountain Province Diamonds Inc. – joined together to construct the Gahcho Kué diamond mine earlier this month. With mine construction starting at the end of 2013, (ore mining in March 2016; actual diamond production 2 months thereafter), to date, De Beers has invested approximately $1 billion and 530 employees in the project.
This mine holds tremendous potential for Canada’s economy. With an anticipated 12-year life span, an anticipated $6.7 billion in revenues will be added to the region. Further, the experts believe that the resource of 20 million carats will probably extend the life of this particular mine a further 5 years (or even more, given the Tuzo Deep drill program). In the beginning of next year, it is likely that commercial-level production will begin.
An estimated 4.5 million carats per annum will be produced in the mine with operating costs being determined via a 2014 Feasibility Study at US $65/tonne.