News

Advanced Search

De Beers Opens 54M Ct. Gahcho Kué Mine

Sep 21, 2016 3:54 AM   By Rapaport News
Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... De Beers announced the launch of its largest mine outside southern Africa, as Gahcho Kué opened Tuesday, 22 years after kimberlite was first discovered at the site in Canada.

The mine, a joint venture between De Beers and Mountain Province Diamonds, is the world’s largest new diamond mine in the last 13 years and is expected to produce about 54 million carats over its lifetime. The deposit in Canada’s Northwest Territories is on track for full commercial operation in the first quarter of 2017.

“As millions of new consumers enter the middle classes in the coming years, consumer demand for diamond jewellery is set to see continued medium to long term growth,” said Bruce Cleaver, De Beers chief executive officer. The new mine “will help to meet this increasing demand,” he added.

Gahcho Kué will employ 530 people full-time, with the majority working a two-week in, two-week out rotation, De Beers said.
Tags: Bruce Cleaver, Canada, De Beers, Gahcho Kué, mountain province, Mountain Province Diamonds, northwest territories, Rapaport News
Similar Articles
Trans HexTrans Hex Sells Idle Mines
Apr 23, 2018
South Africa-based diamond producer Trans Hex is selling two of its Lower Orange River mines that
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.