
Canadian diamond industry growing as De Beers opens Gahcho Kue mine
CALGARY — Canada’s position as a big player in the global diamond industry will be further crystallized Tuesday when it formally opens Gahcho Kue, estimated to be one of the 10 biggest diamond mines in the world.
The site will be the sixth diamond mine opened in Canada in the 18 years that the country has mined the precious stone. It sits about 280 kilometres northeast of Yellowknife in the Northwest Territories.
“It will be a very significant contributor to the NWT economy,” said Kim Truter, CEO of De Beers Canada, which co-owns the mine with Mountain Province Diamonds.
Truter said the operation will provide $6.7 billion to the Canadian economy over its estimated life span of 12 years and has generated $440 million to the territory’s economy so far.