De Beers Canada Mining News

De Beers becomes sole owner of jewellery brand, buys out retail partner LVMH

It has acquired the 50% interest French luxury goods group LVMH had in De Beers Diamond Jewellers for an undisclosed amount.

World’s largest new diamond mine begins commercial production

Gahcho Kué, owned by De Beers Canada and Mountain Province Diamonds, is expected to produce around 54 million carats of rough gems over its 12-year lifetime.

Mountain Province just found this massive diamond at Gahcho Kué

The 67.87-carat gem quality octahedron diamond, unearthed during production ramp-up, is the largest of its kind recovered to date at the remote mine.

De Beers quits search for diamonds in Saskatchewan 

The world's largest diamond company has been exploring for kimberlites north of the decommissioned Cluff Lake uranium mine.

Failing to find a buyer, De Beers will flood Snap Lake Mine 

Work on flooding the tunnels of the shuttered diamond mine will start in early January and is expected to take between six and eight weeks.

Global rough diamond production about to reach its peak

Global rough diamond production will reach its peak in only three years before entering into a supply deficit by 2020, two separate reports show.

De Beers facing legal action over mercury monitoring at Victor mine

Suit claims company failed to report mercury levels at five of nine water monitoring stations near Victor mine.

Less than shiny: De Beers recent sale the lowest this year

The world’s top diamond producer by value said results were in line with expected seasonal demand patterns.

De Beers latest diamonds sale the lowest this year

Still, the world’s biggest diamond producer by value said the auction was better than it had expected.

One of world’s largest, newest diamond mines is now open

Gahcho Kué, a joint venture between De Beers Canada (51%) and Mountain Province Diamonds (49%), is expected to inject $5.2bn into Canada’s economy.

Millennials gave a $25 billion shot in the arm to the diamond industry last year

De Beers, the world's biggest diamond producer, warns that many of the challenges affecting the industry last year are likely to continue over the next decade.

World’s largest, newest diamond mine to inject $5.2bn into Canada’s economy

Gahcho Kué, co-owned by De Beers Canada and Mountain Province Diamonds, is also expected to provide 1,200 new jobs.

De Beers Canada moves from Toronto to Calgary

The move comes as the company readies to open what it calls the world’s biggest diamond mine currently under construction.

Key expansions at iconic Canadian diamond mines hit by setbacks

While Dominion Diamond has pushed construction of Ekati’s new Jay pipe to 2018, Rio has said that a denial of a request to change its water licence could have an adverse impact on Diavik.

Anglo American’s De Beers gets a new CEO

Current strategy director Bruce Cleaver will replace Philippe Mellier, who held the position for five years.

Production at giant Arctic diamond mine just weeks away

Gahcho Kué, the world's largest new diamond mine under development, is now 94% complete with first production planned for the second half of this year.

De Beers lowers diamond prices to boost sales

In a fresh attempt to counter weakening demand, the diamond giant is said to have cut prices by as much as 7% at the Jan. 18 sale.

Dominion Diamond chairman steps down, replaced by De Beers veteran

Robert Gannicott's replacement as chairman will be Jim Gowans, a former DeBeers Canada CEO and most recently the co-president of Barrick Gold,.

Dominion Diamond shareholders revolt, call for changes

Investors have publicly called on the company’s independent directors to deal with the “misguided policies and missed opportunities” that have hurt their investment.

Diamond miners likely to cut prices further in 2016 to lift demand — Moody's

The rating and research agency expects producers to have to deepen cut prices as supply and demand challenges continue into the new year.

Canadian Arctic readies for world’s largest diamond mine opening

The Gahcho Kué mine will take in a number of the hundreds of workers laid off at Snap Lake.

These two record-breaking diamonds were bought for $77 million, by the same person

Hong Kong billionaire Joseph Lau bought the world's most expensive diamonds for his 7-year-old daughter, in less than 24 hours.

This interactive timeline will teach you all about diamond mining

It all began about 900 million years ago.

Alrosa sells less than half the diamonds it mined

The rough-diamond miner extracted about 11.6 million carats in Q3, or 20% more than in the same period last year. However, it could only sell 4.9 million carats.

China’s weak demand for diamonds drags sector into slump

Prices for the precious rocks have fallen almost 12% in the past year, amid weakening diamond jewellery demand from China, the second largest consumer after the U.S.