Rio Tinto’s Diavik diamond mine in the Northwest Territories is set to close in approximately 18 months after almost a quarter of a century of operations. Over 144 million carats of rough diamonds have been recovered at Diavik through a combination of open-pit and underground mining since it entered commercial production in 2003, and the mine is a major contributor to the economy of the Northwest Territories, accounting for more than 10 per cent of the territory’s gross domestic product.
The current mine plan anticipates that operations will cease in the first quarter of 2026, followed by a transition to closure activities from 2026 to 2029. However, the mine was designed with closure in mind from the outset, and Rio Tinto hopes to leave a lasting beneficial impact in the region after its closure activities end in 2029, while limiting its carbon footprint at the same time.
Background
Significant diamond deposits were discovered in the Northwest Territories in the early 1990s. The diamondiferous kimberlite deposits were formed approximately 54 million to 58 million years ago when magma—which included diamonds as xenocrysts—ascended from the mantle and intruded the older Archean rocks of the Slave Craton in the northwestern Canadian Shield, erupting as a volcano. Volcanic material then flowed back into the open crater created by the eruption, creating the ore bodies.
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