New Diamond Mine By De Beers Expected To Gather 54 Million Carats Of Diamond

If you ride an aircraft and visit the diamond mine of Gahcho Kue, you might think that the site seems to come out of nowhere. It contains a tiny industrial development in the middle of the field of vegetation and tiny lakes can be seen at the northern part of the Canadian rock face. The location offers no natural points of landmark or reference. Looking out of the view from a part of the mine, anything else will look just as the same in other parts.

Under the surface is another story because the location is far from the surrounding area. What lies below the cap rock located at Gahcho Kue are mineral tubes positioned vertically which is called pipes in the mining industry. This mineral tube is rich with the very thing they are mining, diamonds. The mine is predicted to gather around 54 million carats of diamond within the 12 year of its operation. When this happens, it will be the biggest new diamond mine in the world that was constructed since the last 13 years.

The mining operation is a joint venture and is located at the northeast part of Yellowknife from a distance of 280 km. De Beers Group of Companies, a diamond mining and retail business that is privately owned, owns 51 per cent of the mining business together with its large parent company based in London, Anglo American PLC. The remaining 49 per cent is owned by Mountain Province Diamonds Inc which is based in Toronto.

The mining site is a relief for the Northwest Territories because it will boost the economy, adding as much as $5.7 billion to the local economy within the 12 year lifespan. The production at Gahcho Kue will make up for the decrease in production output by the other two diamond mining operations in Canada due to setbacks caused by declining diamond prices as well as opposition from the local organization.

Almost all the diamonds which will be gathered from the Gahcho Kue mining site will be sold to be used as gemstones in making rings and necklaces. The diamond with lower qualities will be sold in manufacturing companies that are producing industrial hardware including drill bits and saw with diamond blades

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