Gahcho kué: the largest and richest new diamond mine from De Beers

De Beers Group this week has announced the openining of a new diamond mine. Not just any diamond mine, the world’s largest new diamond mine in the last 13 years Gahcho kué

Officially opened by Bruce Cleaver (De Beers Group CEO), Mark Cutifana (De Beers Group Chairman and Anglo American Chief Executive) Kim Truter (De Beers Canada CEO), Patrick Evans (Mountain Province Diamonds CEO), and representatives of First Nations and Metis communities in the Northwest Territories at an event that included 150 guests from across Canada and around the world.

The 10,353-acre site is located at Kennady Lake in Canada’s Northwest Territories and just 90 kilometres away from De Beers other diamond mine – Snap Lake.

De Beers has revealed that the diamond mine is expected to produce up to 54 milliong carats of rough diamonds from around 35 million tonnes of ore over its lifetime and that full commercial operation is set for 2017.

The Gahcho kué diamond mine, between 2006 and 2015, saw an investment of US$1billion. In that time , the mine directly contributed close to C$400 million to the North West Territories economy.

When the mine reaches full production it will provide a further boost of C$5.3 billion in Gross Value Added to the economy.

The mine is a joint venture with The De Beers Group of Companies (51 per cent) and Mountain Province Diamonds (49 per cent).

Gahcho kué will provide more than 500 full time jobs over its mine life.

In 2015, including supply chain impacts, Gahcho Kue represented more than 10 percent of employment in the NWT’s extractive industries with 2,700 jobs.

It is currently the largest diamond mine outside of Africa in De Beers’ portfolio.

Bruce Cleaver, CEO of De Beers Group, believes the opening places the company in a key position to capitalise on the positive outlook of diamond demand.

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