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De Beers shuts Canada mine due to adverse market condition

Retrenches 60% employees; to review decision in 2016

Community spirit helps Surat diamonds go global

De Beers, one of the world’s largest diamond miners, has shut its Snap Lake mine in Canada because of adverse market conditions. The company said the mine was closed for “care and maintenance”. The mine opened in July 2008 and was Canada’s only fully underground diamond mine. The mine produced 1.2 million carats last year and has a life of around 40 years. Snap Lake was De Beers’ first diamond mine outside Africa. “De Beers has placed its Snap Lake diamond mine on ‘care and maintenance’. The decision follows a review of the ...