About Our News Coverage
This page aggregates the latest news from Canada's diamond mining industry, drawing on reporting from trusted sources including Mining.com, Canadian Mining Journal, The Northern Miner, Natural Resources Canada, and company press releases. We focus on operational updates from Canada's three active mines (Ekati, Diavik, and Gahcho Kué), exploration developments, market trends, policy changes, and the growing lab-grown diamond sector.
The Canadian diamond industry is at a pivotal moment. With Diavik approaching closure, Russian sanctions reshaping global trade flows, and lab-grown diamonds gaining market share, the stories emerging from Canada's North carry implications far beyond the territory borders. Follow the headlines below to stay informed.
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Recent Industry Headlines
Diavik Diamond Mine Begins Final Phase of Operations After Two Decades
Rio Tinto's Diavik mine, which has produced over 100 million carats since 2003, enters its closure and reclamation phase in the Northwest Territories. The process will involve filling open pits, re-contouring land, and decades of environmental monitoring. Approximately 1,100 workers will be affected by the transition.
Canadian Diamond Production Falls to 13.3 Million Carats in 2024 Annual Report
Declining ore grades at Ekati and Diavik push Canadian output below 2020 levels, though the average value per carat remains strong at approximately US $83. NRCan's annual minerals statistics report highlights the ongoing shift in Canada's diamond sector as mines approach end-of-life.
De Beers Advances Chidliak Diamond Exploration on Baffin Island
With 74 kimberlite pipes discovered at Chidliak in Nunavut, De Beers is planning bulk sampling to evaluate the commercial viability of what could be one of the largest diamond districts globally. Community consultations with the Qikiqtani Inuit Association are ongoing.
Mountain Province Reports Strong Q4 Revenue from Gahcho Kué Operations
Mountain Province Diamonds, which holds a 49% interest in the Gahcho Kué mine (De Beers 51%), reported Q4 2025 revenue of CAD $78 million from the sale of 1.2 million carats. The average price of US $69 per carat reflected continued demand for high-quality Canadian rough.
G7 Tightens Russian Diamond Import Controls with New Traceability Rules
The G7 nations have implemented enhanced traceability requirements for rough diamond imports, building on 2024 sanctions against Russian stones. The new rules require proof of non-Russian origin for all diamonds above 0.5 carats entering G7 markets, benefiting Canadian producers who already offer full supply chain transparency through CanadaMark certification.
Arctic Canadian Diamond Company Extends Ekati Mine Life with Point Lake Underground
Arctic Canadian Diamond Company has received regulatory approval to proceed with underground mining at the Point Lake pipe, extending the operational life of the Ekati mine. The development is expected to produce 1.5–2 million carats annually through 2028, providing a partial offset to the loss of Diavik production.
Lab-Grown Diamond Prices Fall Another 25% in 2025, Widening Gap with Natural Stones
Global lab-grown diamond prices continued their steep decline in 2025, with average wholesale prices for 1-carat CVD stones falling below US $300. The price collapse is driven by massive production capacity expansion in India and China. Canadian retailers report growing consumer interest in lab-grown options, particularly for fashion jewellery and anniversary gifts.
NWT Communities Prepare for Post-Diamond Economy as Diavik Wind-Down Begins
Communities across the Northwest Territories that have relied on diamond mining employment and business contracts for over two decades are developing diversification strategies. The GNWT's economic transition plan includes investment in critical minerals, tourism, and renewable energy to replace diamond mining revenue.
Star-Orion South Bulk Sample Recovers High-Quality Diamonds in Saskatchewan
Star Diamond Corporation reported positive results from its bulk sampling programme at the Star-Orion South kimberlite deposit near Prince Albert, Saskatchewan. The sample yielded diamonds with an average value of US $75 per carat, supporting the economic potential of what would be Canada's first diamond mine outside the NWT.
CanadaMark Certification Sees Record Demand Amid Russian Diamond Sanctions
Demand for CanadaMark-certified diamonds has surged following the implementation of G7 sanctions on Russian rough. Retailers in the United States, Japan, and Europe report that consumers are increasingly willing to pay a 15–20% premium for diamonds with verified Canadian provenance. The programme, managed by the Government of Canada, has expanded its participating retailer network by 35% in 2025.
Industry Trends and Commentary
The Canadian diamond industry stands at a crossroads in 2026. Three overarching trends are shaping the sector's future and driving the headlines:
Mine Closures and Declining Production
Canada's diamond output has been on a downward trajectory since peaking at approximately 23 million carats in 2007. The imminent closure of Diavik — which at peak operation accounted for nearly half of Canadian production — will accelerate this decline. Without new mine developments reaching production, Canada could fall out of the global top five producers by 2030. The full industry report provides detailed production trend data.
Sanctions Reshaping Global Supply Chains
The G7 sanctions on Russian diamonds have fundamentally altered global diamond trade flows. Russia's ALROSA, which accounts for roughly 27% of global rough supply, has been forced to redirect sales to non-sanctioned markets — primarily India and China. For Canadian producers, the sanctions have created an opportunity: Western retailers and consumers are actively seeking ethically sourced, non-Russian diamonds, and Canadian stones with CanadaMark certification are ideally positioned to fill that demand.
Lab-Grown Disruption Continues
The lab-grown diamond market continues to grow and disrupt traditional pricing dynamics. Wholesale prices for 1-carat lab-grown stones have fallen below US $300, making them accessible to a much broader consumer base. While lab-grown diamonds are not a direct substitute for the Canadian mining industry (which produces rough for cutting centres), they do compress margins in the retail market and may reduce long-term demand for mined stones, particularly at lower price points.
Our Analysis: The convergence of mine closures, Russian sanctions, and lab-grown growth is creating a unique dynamic for Canadian diamonds. As supply shrinks and ethical sourcing premiums rise, the remaining Canadian production — particularly from Gahcho Kué and Ekati's Point Lake extension — may actually become more valuable per carat even as total volume declines. The CanadaMark brand is positioning itself as the "gold standard" for provenance verification in a market increasingly focused on transparency.
News Sources We Monitor
We track and aggregate coverage from these primary sources to bring you the most comprehensive view of Canada's diamond industry:
- Mining.com — Global mining news with extensive diamond sector coverage and Canadian focus.
- The Northern Miner — Canada's premier mining publication, covering NWT diamond operations in depth.
- Canadian Mining Journal — Operational analysis, technical articles, and industry trends.
- Natural Resources Canada (NRCan) — Official government statistics, production data, and policy documents.
- Rapaport Diamond Report — The industry benchmark for diamond pricing, market analysis, and trade intelligence.
- CBC North — Local coverage of how diamond mining affects Northern communities, Indigenous relations, and the NWT economy.
- Company press releases — Direct operational updates from Rio Tinto (Diavik), De Beers (Gahcho Kué), Arctic Canadian Diamond Company (Ekati), and Mountain Province Diamonds.
Frequently Asked Questions About Canadian Diamond Industry News
What is happening with the Diavik diamond mine in 2026?
Rio Tinto's Diavik diamond mine in the Northwest Territories is entering its final phase of operations in 2026. The mine, which has produced over 100 million carats since opening in 2003, is transitioning from active mining to closure and reclamation. The closure plan includes filling the open pits with processed kimberlite, re-contouring the landscape, and long-term environmental monitoring. Diavik employed approximately 1,100 workers at peak production.
How much are Canadian diamonds worth in 2026?
Canadian diamond production was valued at approximately CAD $1.47 billion in 2024, the most recent full-year data available. The average value per carat for Canadian rough diamonds is approximately US $83, which is more than double the global average. Polished Canadian diamonds command a retail premium of 10–20% over comparable stones from other origins due to their ethical sourcing credentials and CanadaMark certification.
Are there any new diamond mines being developed in Canada?
No new diamond mines are currently under construction in Canada as of 2026. The most advanced exploration projects include De Beers' Chidliak project on Baffin Island (Nunavut), where 74 kimberlite pipes have been discovered, and Star Diamond Corporation's Star-Orion South project in Saskatchewan. Both projects are in advanced exploration stages but have not yet received mining permits. The timeline for any new Canadian diamond mine reaching production is likely 2030 at the earliest.
What impact do Russian diamond sanctions have on the Canadian market?
The EU and G7 sanctions on Russian rough diamonds, implemented from 2024, have had a significant indirect impact on the Canadian diamond market. With Russian supply (approximately 27% of global volume) restricted from Western markets, demand for ethically sourced alternatives — particularly Canadian diamonds — has increased. Canadian rough diamond prices have firmed, and the CanadaMark certification programme has seen increased interest from retailers seeking to demonstrate non-Russian sourcing to consumers.
How many jobs does diamond mining support in Canada?
Diamond mining directly employs approximately 3,500–4,000 workers across Canada's three active mines (Ekati, Diavik, and Gahcho Kué). Including indirect and induced employment — supply chain companies, transportation, services, and community spending — the sector supports an estimated 10,000–12,000 jobs nationally. In the Northwest Territories, diamond mining accounts for roughly 25% of the territory's GDP and is the largest private-sector employer.
What is the Kimberley Process and is Canada a member?
The Kimberley Process Certification Scheme (KPCS) is an international agreement established in 2003 to prevent the trade in conflict diamonds. It requires participating countries to certify that rough diamond shipments are conflict-free. Canada was a founding member and plays an active role in the scheme's governance. All Canadian diamond exports carry Kimberley Process certificates, and Canada's domestic controls include detailed production tracking from mine to export.
How is climate change affecting diamond mining in Canada's North?
Climate change is increasingly affecting diamond mining operations in Canada's Northwest Territories. Rising temperatures are shortening the winter road season — the ice roads that connect mines to Yellowknife for heavy supply transport. The Tibbitt to Contwoyto Winter Road season has shortened by approximately 2–3 weeks over the past two decades. This increases reliance on more expensive air freight, raises operational costs, and complicates logistics planning. Permafrost thaw also poses challenges for mine infrastructure and long-term reclamation plans.
Where can I follow Canadian diamond industry news?
Reliable sources for Canadian diamond industry news include: Mining.com (comprehensive global mining coverage with frequent Canadian diamond stories), The Northern Miner (Canada-focused mining publication), Canadian Mining Journal (industry analysis and operational news), Natural Resources Canada (official government production statistics and policy updates), and Rapaport Diamond Report (market pricing and trade intelligence). Company press releases from Rio Tinto, De Beers, Arctic Canadian Diamond Company, and Mountain Province Diamonds also provide direct operational updates.
Related Resources
Explore more data and analysis on Canada's diamond industry:
- Canadian Diamond Industry Report — 25 years of production data, trade flows, and economic analysis
- Economic Impact of Diamond Mining — Jobs, GDP contribution, and community benefits across the NWT and Nunavut
- Canada vs World: Global Diamond Rankings — How Canada compares to Russia, Botswana, and other producing nations
- Interactive Mines Map — Explore mine locations, kimberlite discoveries, and geological data
- Ethical Diamond Sourcing — CanadaMark certification, Kimberley Process, and responsible mining standards