Rio Tinto Group has officially ended production at its Diavik diamond mine, marking the conclusion of 23 years of operations in Canada’s Northwest Territories. The milestone follows the exhaustion of the site’s economic reserves.
Since opening in 2003, Diavik has produced more than 150 million carats of rough diamonds. Located 220 kilometers south of the Arctic Circle beneath Lac de Gras, the mine was a significant engineering feat, utilizing both open-pit and underground mining methods to extract high-quality white and rare yellow diamonds.
“To arrive at this milestone has required vision, courage and determination to overcome significant challenges to mine diamonds beneath a frozen lake,” said Sophie Bergeron, Rio Tinto Managing Director for Iron & Titanium and Diamonds.
The closure process is already underway, with reclamation activities expected to extend through 2029. Rio Tinto stated it will continue to work with Indigenous partners and the Government of the Northwest Territories to monitor the site’s environmental recovery.
The company confirmed that the final production of Diavik rough diamonds will be polished and sold through its international network of customers throughout 2026.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
