SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondSourcingMar 30, 2026
Rio Tinto Hauls Last Load from Diavik
Production has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
The Diavik mine, which is closing after more than two decades in operation, was discovered in 1991 beneath a frozen lake in the sub-arctic tundra of the Northwest Territories of Canada.
Yellowknife, Canada—Rio Tinto delivered its final production of ore from the Diavik diamond mine in the Northwest Territories (NWT) of Canada on March 24, marking the beginning of the end for the 23-year-old mine.
The mine, located in a remote area less than 150 miles south of the Arctic Circle, produced more than 150 million carats of rough diamonds while in operation and became a major economic pillar of the region.
“This is an historic day for Diavik and the Northwest Territories and a great source of pride for this unique Canadian success story,” said Diavik Chief Operating Officer Matthew Breen.
“Diavik has been an inspired collaboration between a modern mining company and Indigenous partners with an enduring legacy of socioeconomic benefits for the North.”
Indigenous government organizations, government representatives, and other stakeholders attended a celebration at the mine, formally marking the completion of production.
Closure activities will extend to 2029, followed by a period of post-closure monitoring, said Rio Tinto, the mine’s sole owner since 2021.
“We look forward to continuing to respectfully reclaim the land in line with our commitments to, and in partnership with, the Government of the Northwest Territories and Indigenous partners,” Breen said.
The final production of rough diamonds will be polished and sold through 2026 and beyond by Rio Tinto’s international network of customers and its Select Diamantaires.
Related stories will be right here …
The mine, located in a remote area less than 150 miles south of the Arctic Circle, produced more than 150 million carats of rough diamonds while in operation and became a major economic pillar of the region.
“This is an historic day for Diavik and the Northwest Territories and a great source of pride for this unique Canadian success story,” said Diavik Chief Operating Officer Matthew Breen.
“Diavik has been an inspired collaboration between a modern mining company and Indigenous partners with an enduring legacy of socioeconomic benefits for the North.”
Indigenous government organizations, government representatives, and other stakeholders attended a celebration at the mine, formally marking the completion of production.
Closure activities will extend to 2029, followed by a period of post-closure monitoring, said Rio Tinto, the mine’s sole owner since 2021.
“We look forward to continuing to respectfully reclaim the land in line with our commitments to, and in partnership with, the Government of the Northwest Territories and Indigenous partners,” Breen said.
The final production of rough diamonds will be polished and sold through 2026 and beyond by Rio Tinto’s international network of customers and its Select Diamantaires.
Excluding Diavik, there are two active diamond mines in Canada—Ekati (owned by Burgundy Diamond Mines) and Gahcho Kué (owned by De Beers Group).
Diavik, comprising four pipes, was discovered in 1991 beneath Lac de Gras, a lake in the sub-arctic tundra of Canada, about 190 miles northeast of Yellowknife.
Mining began in 2003.
Utilizing both open pit and underground mining methods, Diavik produced predominantly white gem-quality diamonds, a small proportion of yellow diamonds, and a handful of pink stones.
In a remarkably rare instance last summer, it yielded a violet diamond.
Among the most noteworthy discoveries is a 552.74-carat yellow diamond recovered in 2018, which holds the title for the largest diamond ever found in North America.
The Government of Northwest Territories has called Diavik “a pillar of the NWT economy.”
In addition to producing more than 150 million carats of rough diamonds, the operation has supported more than 1,100 jobs annually and contributed nearly 10 percent of territorial GDP.
“The mine invested approximately $11.75 billion over its lifespan, including $8 billion in the North, while helping build Indigenous partnerships, local businesses, and a highly skilled northern workforce,” it said in a statement.
Though its original life-of-mine was forecast for 2025, the transition of its A21 pipe to underground mining in late 2024 extended Diavik’s life into the first quarter of 2026.
Planning for the mine’s closure, however, commenced before the mine even began production, Rio Tinto said, with considerations for safety, land use, landforms, water, biodiversity, community capacity, and resource development.
The buildings on site are designed to be demolished and disposed of safely, according to its website, and when mining ends, the embankments will be breached and lake water will flow back into the open mines, to be connected to the lake.
“Forty years ago, there were very few people who believed there were diamonds in Canada – even fewer could have foreseen how the Diavik story would unfold. To arrive at this milestone has required vision, courage, and determination to overcome significant challenges to mine diamonds beneath a frozen lake in one of the world’s most remote and pristine ecosystems," said Sophie Bergeron, Rio Tinto’s iron, titanium, and diamonds managing director.
“Today, Diavik’s influence stretches into many spheres and over many continents, and I am very proud to acknowledge all those people who have contributed to the discovery and development of the mine and the production and marketing of some of the finest diamonds the world has ever seen.”
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’
SourcingNov 04, 2020
Australia’s Argyle Mine Is Now ClosedMore on Sourcing
The Latest
MajorsJul 08, 2026
Kendra Scott Joins ‘Shark Tank’ As Permanent Investor The founder of the billion-dollar jewelry and lifestyle brand will debut as a full-time “Shark” on the upcoming season of the show.
SurveysJul 08, 2026
Signet Jewelers Falls 5 Spots on NRF’s ‘Top 100’ Retailers ListPlus, why retailers should be ready to adjust as the U.S. population may decline this year for the first time since the Great Depression.
CrimeJul 08, 2026
Here’s What Thieves Stole From the Lalique Museum René Lalique’s “Woman Dragonfly With Open Wings” pendant, the first piece the museum acquired, was one of the jewels taken.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
MajorsJul 08, 2026
Richline Group Promotes 2 ExecsArien Gessner and Moss Makhoulian have been elevated into newly created roles.
Weekly QuizJul 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsJul 07, 2026
Peter Smith: Diamond Branding and the Origin ParadoxA podcast prompted Smith to share his views on where origin fits into the natural diamond story and the viability of branded diamonds.
Events & AwardsJul 07, 2026
JA Announces 2026 Impact Initiative RecipientsThe association selected eight recipients for the funding program, which is in its second year.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
TrendsJul 07, 2026
Amanda’s Style File: Ruby, White and Blue Whether celebrating America’s 250th birthday or the USA’s World Cup run, July birthstone jewelry can double as a patriotic accessory.
CrimeJul 07, 2026
Thieves Steal Millions in Jewels From France’s Musée LaliqueAround 20 pieces of jewelry were stolen from the museum dedicated to French jeweler and glassmaker René Lalique.
CollectionsJul 07, 2026
Robinson Pelham Is Partying Like It’s 1996The “Summer of ’96” campaign and collection celebrate the year the brand was founded for its 30th anniversary.
IndependentsJul 06, 2026
Bachendorf’s To Open Fifth Store In DallasThe new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
MajorsJul 06, 2026
Graff Names BTS Star Jung Kook as New AmbassadorThe pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.
CollectionsJul 06, 2026
Pandora’s New Baroque Pearl Collection Is a Whimsical ‘Wonder’One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.
Supplier BulletinJul 02, 2026
Elevating Retail Showcases with Today's Necklace & Bracelet TrendsSponsored by Rio Grande Jewelry Supply
TrendsJul 02, 2026
Oscar Heyman’s Flag Brooch Celebrates AmericaThe American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.
IndependentsJul 02, 2026
D. Geller & Son Partners with KSU Art Students on Store MuralThe artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.
Events & AwardsJul 02, 2026
Stratus Estate Buyers Offers Jewelers Turnkey Buying EventsIts team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.
SurveysJul 01, 2026
Consumer Confidence Ticks Up in JuneFalling oil prices were a factor in the slight month-over-month improvement.
CollectionsJul 01, 2026
Rio Grande Launches First Finished Bridal CollectionThe new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.
WatchesJul 01, 2026
Rolex Unveils Clock at Rockefeller CenterThe clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.
IndependentsJul 01, 2026
Kristen Cannon of Valobra Master Jewelers Dies at 49The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.
WatchesJun 30, 2026
Pokémon Fans Will Want to Catch This New G-Shock WatchThe new watch commemorates Pokémon’s 30th anniversary.
MajorsJun 30, 2026
Saks Global Emerges From Bankruptcy With New NameThe luxury retailer is now called Exemplar Luxury Group.
CollectionsJun 30, 2026
Jade Ruzzo’s New Collection Embodies the Art of Being a LadyThe “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.
SourcingJun 30, 2026
Blue Nile Introduces Montana Sapphire CollectionThe new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.
GradingJun 30, 2026
AGS Opens 2026 Recertification ExamAll active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.
