Canadian diamond production to double by 2018

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Canadian diamond production is on the rise and expected to double in the next four years. Scheduled to start production in 2016, Mountain Province Diamonds’ Gahcho Kué Project is currently the largest new diamond mine in the world. It features four diamondiferous kimberlites, three of which have a total diamond content of 55.5 million carats with a mineral reserve of 35.4 million tones.

Another Canadian diamond mining to take place is Stornoway’s Renard project in the James Bay region of Quebec. Commercial production is scheduled to start in 2017 for this $946 million project. Canada makes up 14.2 per cent of the diamond production globally, with 8.7 per cent in carat volume. The two aforementioned mining projects will hike Canada’s global market share to 25.2 per cent by 2018. CJ

*Content and estimate data courtesy of Paul Zimnisky.

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