Two of the three Canadian diamond mines that were producing at the start of 2026 have stopped. In a new report, the natural diamond trade’s nonprofit shows that community stories sell its stones. But Canada’s own record, $9.1 billion spent with Indigenous owned businesses, is not in it.
Diavik’s last day of production came in late March 2026. The Rio Tinto mine sits beneath Lac de Gras in the Northwest Territories, 220 kilometres south of the Arctic Circle. When it ended, Indigenous government organisations attended the closing ceremony. In 23 years, the mine produced more than 150 million carats.
Matthew Breen, Diavik’s chief operating officer, called the mine “an inspired collaboration between a modern mining company and Indigenous partners.” He also said it leaves “an enduring legacy of socioeconomic benefits for the North,” Mining Weekly reported.
Then Ekati, Canada’s oldest diamond mine, went into receivership on July 14, 2026. A court supervised sale had closed four days earlier with no qualifying bid, according to the court appointed receiver, PwC. Jeremy King runs Burgundy Diamond Mines, the owner. He called it “a deeply disappointing outcome for Ekati’s workforce, Burgundy’s stakeholders and communities across the Northwest Territories.”
Which Canadian diamond mines are still producing?
Gahcho Kué is now the only producing diamond mine in the Northwest Territories. De Beers and Mountain Province own it jointly, and it sits 280 kilometres northeast of Yellowknife. General manager Kevin Gostlin told the Yellowknife Geoscience Forum the mine still plans to run until 2031. “We’re doing everything we can to make sure that’s successful,” he said, according to Cabin Radio.
| Mine | Owner | Opened | Status, November 2026 |
|---|---|---|---|
| Ekati | Burgundy Diamond Mines | 1998 | In receivership since July 14; site in care and maintenance |
| Diavik | Rio Tinto | 2003 | Production ended March 2026 after more than 150 million carats |
| Gahcho Kué | De Beers and Mountain Province | 2016 | Producing; planned mine life to 2031 |
The closures hit a sector that was already shrinking. In 2024, Canada ranked fourth in the world for diamond output by value, with 11.3 per cent, says Natural Resources Canada. Still, the value of Canadian production fell 30 per cent that year, to $1.47 billion.
Jorden Villeneuve worked at Ekati as a welder for a decade. After the news broke, he told CBC News the early closure was “devastating” for many people. “We’ve relied on the mine sites to help employ the Indigenous and northern workers,” he said. Because the company has no money left, the territorial government will pay for the cleanup from $326 million in security it holds.
What did the Diamonds Do Good 2026 impact report find?
The report found that true stories from diamond communities draw strong consumer interest in natural diamonds. Its fall campaign earned three times the click rate of an average Facebook and Instagram ad.
Diamonds Do Good is the natural diamond trade’s nonprofit. It began in 2006 as the Diamond Empowerment Fund, inspired by Nelson Mandela, and took its current name in 2019. In 2026 it supported 8,614 adolescent girls in Tanzania. It also paid for eye screenings for more than 700 pupils in Soweto. Its grants to 11 entrepreneurs totalled $80,000.
The campaign, called My Diamond Does Good, used four creators from outside the jewellery trade. Also, none received gifted jewellery. As of October 27, the report counts these results:
- Six times more visits to the Diamonds Do Good website.
- Twice the click rate of typical nonprofit campaigns.
- Three times the click rate of the average Facebook and Instagram ad.
- Four times more completions of its Diamond Personality Quiz.
- One in four people who found it on social media went on to a natural diamond match.
Retailers contacted the nonprofit on their own to say the message was reaching customers, the report adds. Full results will follow in 2027. “Our goal isn’t simply to change what consumers buy. It’s to change what they believe,” Rebecca Foerster, president of Hearts On Fire, says in the report.
Why are Canadian diamond mines missing from the report?
Canada is not one of the seven countries where Diamonds Do Good works. Instead, its programs run in Botswana, South Africa, Tanzania, Namibia, Lesotho, Sierra Leone and India. Yet the report’s own line fits the Northwest Territories closely: “Because a mine has a lifespan, a community shouldn’t.”
The northern mines also kept detailed records of what they spent. From 1996 to 2024, Northwest Territories diamond mines spent $28.9 billion on procurement, according to the territorial government’s 2024 report. Of that, $20.2 billion went to businesses in the territory, including $9.1 billion to Indigenous owned companies. The mines also recorded 77,471 person years of work. In 2024 alone, they spent about $800 million with territorial businesses. Of that, Indigenous owned firms received $458 million.
Canadian data is unavailable on the question that matters most at retail. No study has measured whether origin or community stories lift natural diamond sales in Canadian stores. So the campaign figures come from a North American effort run out of the United States.
Documented Canadian polished goods are also scarce. The territory runs two origin trademarks, Polar Bear Diamond and Government Certified Canadian Diamond. In 2024, they covered about 39 polished carats. Our earlier report, Stones With a Canadian Address, traced the supply side.
What do the closures mean for Canadian jewellers?
For retailers, documented Canadian diamonds are now a closing inventory. They arrive as lab grown wholesale prices keep falling, down 13 per cent in the second quarter, according to our Q2 2026 wholesale report. So a natural stone sold on grading specifications alone faces that comparison directly.
The Diamonds Do Good report gives sales associates one sentence to use: “It’s the oldest thing you’ll ever wear, and it’s still doing good today.” A Canadian store could add the northern record to it. For example, the mines behind the stone spent more than nine billion dollars with Indigenous owned businesses.
That approach depends on proof. A laser inscription matched to a grading report can prove origin, and so can supplier documents. With that proof, a store can show its Canadian stones on their own. Because that supply cannot be replaced, those stones are poor candidates for holiday discounts. Diamonds Do Good also runs April as its awareness month. During that month, it offers retailers ready made social content and in store materials.
Sources: Diamonds Do Good 2026 Impact Report; Government of the Northwest Territories, 2024 SEA Report; Natural Resources Canada; Mining Weekly; The Canadian Press; CBC News; Government of the Northwest Territories; PwC; Cabin Radio.
Frequently asked questions
Are Canadian diamond mines closing?
Yes. Diavik ended production in March 2026 and Ekati went into receivership in July 2026. Gahcho Kué, owned by De Beers and Mountain Province, is the last producing mine there. It plans to operate until 2031.
Why did the Ekati diamond mine close?
Ekati’s Canadian owner filed for creditor protection in May 2026 as diamond prices fell. A court supervised sale ended on July 10 without a qualifying bid, and the mine went into receivership on July 14.
How much have Canadian diamond mines spent with Indigenous businesses?
Northwest Territories diamond mines spent $9.1 billion with Indigenous owned businesses in the territory from 1996 to 2024. That was part of $20.2 billion spent with all territorial businesses, according to the territorial government.
What did the Diamonds Do Good 2026 impact report find?
Diamonds Do Good, the trade’s nonprofit, found that real community stories sell. Its campaign drew six times more website visits and triple the average social ad click rate. One in four people reached went on to a natural diamond match.
How can a jeweller prove a diamond is Canadian?
Match a laser inscription to a grading report, or keep supplier documents that show Canadian origin. Stones with a territorial trademark such as Polar Bear Diamond also qualify. Show that proof to the customer at the sale.
Author: Olivier Fel.
Olivier Felicio is the founder and publisher of Canadian Jeweller Magazine, Canada's jewellery business publication since 1879. He writes on retail strategy, market data, trade policy and the commercial side of the Canadian jewellery and watch trade, and hosts Time and Shine, Canada's jewellery buying event. Contact: olivier@canadianjeweller.com.
