Canadian Diamond Mines

Canadian diamond mines have surged in production over the past decade and these stones are ever more popular for wedding and engagement rings.

Canada produces a large portion of the world's diamonds.

Diamond mining hasn't been around in Canada for very long. The diamonds were discovered in Canada's Northwest Territories in 1991, and today several prominent Canadian diamond mines provide superior quality stones to the jewelry and manufacturing industries.

Geologists Charles Fipke and Stuart Blusson had been scouring the Northwest Territories for diamonds for a decade before they finally found what it was they were looking for in 1991. In 1998, Ekati Mine opened. Over a time period of 10 years, Ekati produced an estimated forty million diamond carats. Scientists have estimated that the Ekati Mine reached its production peak in 2004 and production has declined to an average of three million carats per year. Fipke and Blusson still own a 10 percent stake in the company.

Located right next to the Ekati Mine in the Northwest Territories, Diavik began mining diamonds in 2003. The mine produces an estimated eight million carats of diamonds a year and has an expected life span of 16 to 22 years. The Harry Winston Diamond Corporation and the Rio Tinto Group currently own Diavik.

The Jericho Diamond Mine is located in Nanavut, about 250 miles outside of Canada's Northwest Territories. The Jericho mine is the third diamond mine in Canada and although it is owned by the Tehara Diamond Corporation, many of its construction projects are underwritten by Tiffany & Company. Diamond production at Jericho is much smaller by comparison than Ekati and Diavik, producing around 400,000 carats per year.

Canadian gems are high quality.

Also located in the Northwest Territories, the Snap Lake Diamond Mine is owned by diamond conglomerate De Beers. Snap Lake is De Beers' first diamond mine outside of Africa. De Beers spent nearly $1 billion in capital costs for the mine, but they estimate that it will produce 1.4 million carats per year.

Another De Beers owned mine, this one is located in northern Ontario. Construction of the mine began in 2006 and De Beers estimates that it will produce about 600,000 carats of diamonds annually at full production.

Like many Canadian diamond mines, The Gahcho Kue Diamond Mine is located in Canada's Northwest Territories. Also, like Snap Lake and Victor, this diamond mine is owned by De Beers, though it's a joint venture between the De Beers and Mountain Province Diamonds. The Gahcho Kue Mine is expected to churn out an estimated three million carats of stones per year.

Canadian mines now rank third in the world diamond production. With diamond mines popping up a seriously fast rate, many wonder what will happen to the once pristine environment of Canada's northern most territories. Canada has some of the strictest environmental laws in the world. That being said, there is still negative environmental impacts of diamond mining.

• Increased greenhouse gas emissions – These diamond mines use millions upon millions of gallons of diesel fuel every year.
• Destruction of natural habitats – Mine construction and open pit mining itself leads to the destruction of natural habitats for wildlife as well as the elimination of food sources for Canada's wildlife.
• Water pollution – The lakes and streams near and around the diamond mines have experienced a drop in the fish populations due to the diminished water quality. Twenty lakes in the area have been drained altogether. The environmental impact of these drained lakes has not yet been assessed.

Diamond mining is a relatively new industry to Canada, so it may take some time for the government to assess the environmental impact then write and enact new laws regarding the environmental sustainability of these diamond mines.

There are some positive aspects to diamond mining in Canada. These mines bring jobs to the area, so there are socioeconomic benefits for the country’s population. Canadian diamonds are completely conflict free, unlike diamonds from other parts of the world. Furthermore, many Canadian diamonds are of exquisite quality and can be more affordable for many couples.

Canadian diamond mines are growing in number, size, and prestige, offering consumers and industries many new options for finding lovely gems for all their diamond needs.

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