|The Diavik Diamonds Project is Canada's second diamond mine and is centred on a large 20 square kilometre island, informally called East Island, in Lac de Gras. |
Construction of the project cost (CAN) $1.3 billion with the first diamonds delivered in January 2003. At full production Diavik will produce between 6-8 million carats per year, or approximately 5 per cent of the world's diamond supply. The mine has a 20 year life based on a resource base of 138 million carats.
The Diavik Project is an unincorporated joint venture between Diavik Diamond Mines Inc. (DDMI) (60 per cent) and Aber Diamond Mines Ltd. (40 per cent). Both companies have headquarters in Yellowknife. DDMI is the Project manager and responsible for the development of the Diavik Diamonds Project and supplies information to Aber on a regular basis about the Project's progress. Aber pays 40 per cent of the Project costs and has the right to receive 40 per cent of any diamonds produced.