De Beers moving ahead with Gahcho Kue

by eyetee | February 7, 2011 12:00 am

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De Beers’ Gahcho Kue diamond mine in Canada’s Northwest Territories may be up and running by 2014 after the mining giant filed for an environmental assessment.

The news comes several years after the Mackenzie Valley Environmental Impact Review Board declared the mine would have to undergo a full environmental impact study. De Beers lost an appeal on the decision and in the meantime, demand for diamonds dropped worldwide and the project was put on hold.

Located about 85 kilometres from the company’s Snap Lake Mine, Gahcho Kue consists of kimberlite pipes beneath Kennady Lake. A 2009 feasibility study put production at three to four million carats per year over a 15-year life. This would bring De Beers’ count of mines outside Africa to three. The Victor Mine is located in northern Ontario.

Canada is the third-largest producer of diamonds by value behind Botswana and Russia, which are number one and two.

Source URL: https://www.jewellerybusiness.com/news/de-beers-moving-ahead-with-gahcho-kue/

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