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De Beers Canada Releases its 2011 Economic Impact Report

Jun 27, 2012 3:48 PM   By Jeff Miller
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RAPAPORT... De Beers Canada released its 2011 ''Year in Review,'' summarizing the company's performance in the areas of operations, finance, sustainability and contributions to Canada and the communities in which it operates. This year, the company detailed its Snap Lake mine in the Northwest Territories and the Victor mine in northern Ontario among other projects.

De Beers Canada's president, Tony Guthrie, said the success in 2011 can be attributed to the commitment of employees, business partners and community partners to safe, secure, profitable and sustainable production. "It is inspiring to see the way our team works together to achieve remarkable results, while improving our overall safety performance," said Guthrie. "We will continue to focus on the sustainable growth of our Canadian assets through clear objectives and aggressive targets, both at our operations and in the field, which will position De Beers Canada for the next twenty years and beyond."

In 2011, De Beers Canada employed 1,023 people and injected more than $500 million directly into the Canadian economy, according to the mining giant. Social investment totaled $4.9 million through cash, in-kind donations and staff time, with a primary focus on literacy, education and skills training for the communities near our mine sites.

Specifically at Snap Lake, De Beers Canada spent $161 million on local goods and services with $110 million of the amount going directly to northern businesses, and $40 million buying these services from Aboriginal suppliers.

At the Victor mine, $101 million was spent on goods and services and $57 million worth was supplied by Aboriginal businesses.

Tags: aboriginal, businesses, Canada, De Beers, Jeff Miller, services, sustainability
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