Polar Bear Diamonds, fomerly the most recognizable diamond brand in Canada with its iconic trademark - a laser engraved, microscopic polar bear to symbolize Canadian and conflict-free - was first launched in the late 1990s but was discontinued in 2010 after the two companies that were given permission to use it went into receivership. EDGE writer Jack Danylchuk details the attempt by Deepak Kumar, owner of Deepak International Ltd., to save the brand from extinction, and how this attempt failed despite the full confidence and support of the N.W.T.
In a news release on Tuesday, Mountain Province Diamonds (MPD) said that development of the Gahcho Kué diamond mine is progressing according to plan and budget with the overall project more than 70% complete. MPD CEO Patrick Evans added that the mine "continues to meet our lending group's tests-to-completion and further draw-downs against the company's $370 million project finance facility have been approved." The company expects to have drawn down a total of $158 million of the loan facility by the end of 2015.
This has been called a "crucial week" for the future of Dominion Diamond's Ekati mine in Canada's NWT as it faces hearings initiated by an environmental watchdog about its proposed expansion of the mine - a project named the Jay pipe. "Dominion believes opening up Jay – by building a dyke, draining part of a lake and digging an open pit – will keep the mine open for an additional 10 years, to 2030," reports mining.com.
Dominion Diamond (DD) announced positive results of a preliminary economic assessment (PEA) for the Sable kimberlite pipe deposit located within the majority-owned Ekati diamond mine area in Canada's Northwest Territories, in which the Company holds an 88.9% interest. The PEA established a post-tax net present value of US$233 million at a 7% real discount rate, and an internal rate of return of 17.3%. The company said that the study has pegged initial development capital at US$147.4 million, sustaining capital at US$20.3 million and the base case diamond price at US$190 per carat.
Canadian jeweler Birks will sell the "North Star", the largest Canadian diamond ever extracted, for $3.7 million. The North Star, a round brilliant diamond, weighs 15.10 carat, measures 15.87 by 9.77mm and was cut from a 55.07-carat rough stone extracted from the Diavik mine in the Northwest Territories just seven months ago. The diamond has a D colour grade and S12 clarity with slight inclusion. This diamond beats out a 35 carat rough diamond mined in 2013 near Attawapiskat at the DeBeers Mine which was cut down to about 15 carats, for the title of biggest diamond from Canada.
Diamond exploration firm Canterra Minerals, which was involved in the discovery of two of Canada's four diamond mines, including the Snap Lake Mine and Ekati Mine, has started a till sampling program at its South Slave Properties in the Northwest Territories, Canada. The company owns mineral rights to around 97,220ha in the South Slave Region, which is around 210km northeast of Yellowknife.
Microscopic, ugly diamonds from the Northwest Territories are illuminating how diamonds are made. A new study suggests they formed from ancient seawater trapped deep below the surface of the Earth. A group of U.S., U.K. and Canadian scientists think they have good evidence that a key component of the fluid that produced at least some kinds of diamonds was ancient seawater, trapped 200 kilometres beneath the surface of the Earth.
Kennady Diamonds Inc. will use the money for exploration, evaluation and permitting programs and for general corporate purposes. The firm controls 100 percent of the Kennady North diamond project located in Canada’s Northwest Territories which is located to the north and west of the Gahcho Kué Diamond mine, a joint venture between Beers Canada and Mountain Province Diamonds.
Canada's federal government says the proposed expansion of the Northwest Territories' Ekati diamond mine doesn't need a second environmental review. That's good news for Dominion Diamond Corporation, which hopes to begin construction on the expansion in the second half of 2016, but it's not good news for the Kitikmeot Inuit Association (KIA). The KIA wants the Nunavut review because the Jay project lies within the Lac de Gras watershed. All water from the watershed goes to the Coppermine River, a popular canoeing destination and source of drinking water and fish for the Inuit of Kugluktuk.
Kennady Diamonds announced the diamond recovery results from the Faraday 2 2015 spring core drilling program. Approximately 0.93 tonnes of kimberlite returned a sample grade of 1.93 carats per tonne for diamonds of commercial size. Kennady Diamonds CEO Patrick Evans commented: "We are very pleased with these high diamond recovery results, which confirm that the Faraday 2 kimberlite has the potential to host a high grade diamond resource.
In a news release, Kennady Diamonds announced the latest drill results from the 100 percent-controlled Kennady North diamond project located in Canada’s Northwest Territories. Kennady Diamonds CEO Patrick Evans commented: “Delineation drilling at the Kelvin kimberlite continues to return excellent results. The focus of the drilling was to delineate the lower areas of the Kelvin pipe at the north end of the current geological model. Holes 43a and 43b retuned significant intercepts beyond the current model.
A dozen mining juniors and prospectors were given a leg up last week during the second round of the Government of the Northwest Territories recently introduced mining incentive program. Twelve gold and diamond exploration projects in the North Slave and Sahtu regions received $400,000 on June 30 in an attempt to boost exploration and possibly spark some discoveries. “We know our territory is rich in minerals, but we are still under-explored,” said Industry, Tourism and Investment Minister David Ramsay.
Kennady Diamonds Inc. owns the Kennady North diamond project in Canada’s Northwest Territories which is situated right next to the Gahcho Kué diamond mine being developed by De Beers Canada and Mountain Province Diamonds.
Dominion Diamond Corp.'s production in the first fiscal quarter of 2015 saw mixed results from its Ekati and Diavik diamond mines in Canada's Northwest Territories. For the quarter ended April 30, the Ekati mine had an output of 804,000 carats, an improvement over the 561,000 carats produced the previous year. This was due to higher productivity at the Koala pipes that offset the impact of "unusually extreme winter conditions" that affected surface mining activities. Meanwhile, production at Diavik decreased to 604,000 carats from 734,000 carats.
De Beers Canada Inc. and Mountain Province Diamonds Inc., stakeholders in the Gahcho Kué diamond mine in Canada’s have concluded an impact benefit agreement with the North West Territories Metis Nation. The goal is to provide the Metis with employment and training opportunities and ensure environmental sustainability.