Today’s story is about the mine co-owned by De Beers Canada and Mountain Province Diamonds. If you are hoping to get engaged in the next few years, it’s possible the stone might come out of this mine!
Gahcho Kue, the world’s largest new diamond mine, is due to begin production later this month. It is expected to contribute US$5.2 billion, or Cdn$6.7 billion, to Canada’s economy and provide 1,200 new jobs.
The mine is located about 300km east of Yellowknife in Canada’s Northwest Territories. It has provided US$341 million, Cdn$440 million, to boost the NWT economy so far. To the rest of Canada, it has generated US$272 million or Cdn$350 million, according to the figure released by De Beers.
All that is wonderful, but what makes the mine especially important is the fact thet two of Canada’s major diamond mines – Diavik and Ekati – are approaching the end of their productive lives, and – althought it’s smaller – Gahcho Kue would be able to offset the production drop off.
A second interesting tidbit is that last year, De Beers only contributed US$930 million, Cdn$1.2 billion, to the Canada economy.
We like to see the economy improve little by little, and this is definitely a huge step in the right direction! Congratulations to these two companies on their contributions. Let us know if you need any equipment, we would be happy to provide to such a great project!
*All info for this story was taken from mining.com.
