The 102ct D flawless oval diamond, roughly the size of an egg, polished out of a 271ct rough stone discovered in the Canadian Victor mine, sold within minutes at the auction at Sotheby's Hong Kong Monday evening, after online bidding had begun a month earlier without a reserve price. Although 15.7 million is a record-breaking price for online bidding, some believe the winning bid is on the low side.
The Victor diamond mine in northern Ontario, Canada, will reach the end of its mining and production activities in the first quarter of 2019, once the current open pit is depleted and in line with the original feasibility study and current mine plan, De Beers Group announced Nov. 1. Production at Victor mine commenced in July 2008.
De Beers is shelving immediate plans to study an expansion project, called Tango, at its Victor diamond mine in northern Ontario after failing to get support from a neighboring aboriginal community, writes Reuters.
A Canadian environmental group is taking diamond giant De Beers to court over their alleged failure to provide a full report on the mercury levels at their Victor diamond mine in Northern Ontario. Since mining could trigger mercury pollution, Ontario’s government requires De Beers to self-monitor and report on the mercury levels found in creeks near the mine.
De Beers Canada’s senior external and corporate affairs manager Tom Ormsby tells the Canadian Mining Journal (CMJ) that the recent report by the Canadian Parks and Wilderness Society's (CPAWS) Wildlands League "is greatly misleading.” The report accuses De Beers Canada and its Victor diamond mine in northern Ontario of environmental offenses.