Rio Tinto Shuts Primary Canadian Diamond Mine as Reserves Exhaust

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.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

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.

Video Articles

The Red Cloud Fall Mining Showcase 2026 | Day 1

Can an Old Irish Mine Recover the Silver It Left Behind? | Julian Vickers – Northmin Corporation

Is Gold at $4,000 a Buy Zone or a Breakdown? | David Morgan

Recommended

Police Contain ‘Active Threat’ at University of Toronto Mississauga Residence

McLaren Resources Launches Satellite Targeting Program Across Three Timmins Area Gold Properties

Related News

Glencore’s CEO Is Privately Telling Investors He Expects Another Shot at Rio Tinto

The merger that would create the world’s largest mining company collapsed in February. Glencore‘s (LON:...

Wednesday, March 18, 2026, 11:22:00 AM

Rio Tinto, Glencore Resume Talks on $200 Billion Mining Mega-Merger

Mining giants Rio Tinto (ASX: RIO) and Glencore (LON: GLEN) have revived discussions about combining...

Monday, January 19, 2026, 12:10:00 PM

China State Buyer Freezes Some Rio Tinto Iron Ore Talks

China’s latest pressure campaign against Rio Tinto is also aimed at consolidating control over Chinese...

Thursday, August 6, 2026, 10:08:00 AM

Rio Tinto Stops Underground Work at Oyu Tolgoi Following Mine Accident

Underground operations at the Oyu Tolgoi copper mine in Mongolia have been suspended by Rio...

Thursday, October 29, 2026, 03:27:56 PM

Rio Tinto Proposes 80% Higher CEO Long-Term Incentive Limit

Rio Tinto is seeking to raise its chief executive’s long-term incentive ceiling from five times...

Wednesday, October 28, 2026, 04:34:45 AM