Sourcing

By 2019, De Beers Will Be Down to 1 Active Mine in Canada

SourcingNov 02, 2017

By 2019, De Beers Will Be Down to 1 Active Mine in Canada

The Victor open-pit diamond mine will cease operations in early 2019, leaving only Gahcho Kué.

2017_Victor-mine.jpg
This shot provided by De Beers shows the Victor mine in northern Ontario, Canada. Diamond mining will cease at the site in the first quarter 2019 after a decade in operation.

Calgary, Canada--De Beers announced late Wednesday that it plans to close one of the two active diamond mines it has in Canada.

The open-pit Victor mine in northern Ontario opened in 2008 and was projected to produce 6 million carats of rough diamonds during its lifetime. To date, the mine has produced 7 million and De Beers said the decision to close it is in line with the original feasibility study and current life-of-mine plan.

Tom Ormsby, De Beers Canada spokesman, said the company will gradually reduce the workforce at Victor over the next 16 months.

Not including contractors, De Beers employees will number 350 in January 2018, 277 in December and then go down to 79 for the decommissioning, demolition, reclamation and environmental monitoring phase that will take place after mining and processing ends.

De Beers has been operating in Canada since 1961, when it first began exploring for diamonds there.

The company came across the Victor kimberlite cluster, the first economically viable diamond discovery in Canada, in 1987 and opened the Victor mine in 2008.

The closure of the Victor a little more than a year from now will leave De Beers with one operating mine in Canada, Gahcho Kué, and the news comes just a week after De Beers all but confirmed reports that it will shut down four land diamond mines in Namibia by 2022.

Outside of Victor and Gahcho Kué, De Beers has the underground Snap Lake Mine in Canada but that mine has been inactive since December 2015.

De Beers said that it developed a mine closure plan before Victor opened and already has started reclamation work on the land, including the planting of more than 200,000 tree saplings and willow stakes that were harvested and grown locally through a community youth work program.

After mining ceases in early 2019, the demolition and environmental monitoring phase will begin and will take three to five years.

De Beers said it will be hiring people and awarding contracts for this phase of the mine’s shutdown, supplementing the 79 employees expected to remain employed after Q1 2019.

Editor's note: This story was updated post-publication to include information obtained from De Beers about employment numbers at the mine.

Michelle Graffis the editor-in-chief at National Jeweler, directing the publication’s coverage both online and in print.

The Latest

Lisa Bayer
Events & AwardsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64

Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”

Tiffany & co diamond ring
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online Sale

The highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.

Tom Heap
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, Watches

Former Sotheby’s executive Tom Heap has taken on the London-based role.

GIA iD100®
Brought to you by
Protect Your Customers and Your Business

You deserve to know what you are selling–to protect your customers as well as your business and your reputation.

NYPD robbery media
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery Suspects

The group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.

Weekly QuizMar 19, 2026
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
Georgia May Jagger in Tommy Hilfiger campaign
FinancialsMar 23, 2026
Movado’s Q4 Sales Rise As Demand Grows From Younger Shoppers, Women

Movado CEO Efraim Grinberg noted continued strength in the fashion watch and accessible luxury segments in the U.S.

Marco Bicego Art of Craft Campaign Imagery
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’

After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”

TopImageCrop.jpg
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.

Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.

Couture Time to Watches logo
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This Year

Couture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.

Macy’s New York City Herald Square flagship
FinancialsMar 20, 2026
Macy’s Turnaround Plans Shows Promise, Boosted by Bloomingdale’s

Plus, why Saks Global’s bankruptcy may have given Bloomingdale’s an edge.

Jwaneng Diamond
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ Diamond

The flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.

Tiffany & Co.’s Three Jean Schlumberger for Tiffany & Co. Archives Brooches
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars Win

Costume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.

Women wearing Zales jewelry
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen Banner

The jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.

Hand holding shopping bags
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026

From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.

26.36 carat round brilliant cut white diamond
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at Auction

The historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.

JCK Rocks Nelly Graphic
Events & AwardsMar 19, 2026
JCK Rocks To Ride With Nelly

Three-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.

Lady Wardington and diamond-clip brooch
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161K

The model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.

My Next Question Episode 3 guest Johnny Nelson
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny Nelson

Fresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.

Stuller The Basics of Jewelry
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book

“The Basics of Jewelry” has been updated to include modern topics and visuals.

Mark and Candy Udell on stage at the 2026 Gem Awards
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards

Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.

Winter Tourmaline
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’

The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.

Natalie Portman in Tiffany & Co. Jewelry
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New Ambassador

The Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.

Jean-Marc Duplaix
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEO

The organizational change follows Kering’s promise of a transformation after declining sales in 2025.

Anne Hathaway and Rose Byrne
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After Another

Natalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.

Tag Heuer CEO Béatrice Goasglas
WatchesMar 16, 2026
TAG Heuer Has a New CEO

Béatrice Goasglas has been with TAG Heuer since 2018. She is the first woman to head the 166-year-old, LVMH-owned watch brand.

Ben Bridge Jeweler Honolulu boutique
IndependentsMar 16, 2026
Ben Bridge Debuts New Honolulu Boutique

The store features the first in-store build for the jeweler’s in-house “Bella Ponte” bridal brand.

Bonhams fine jewelry Paris
AuctionsMar 16, 2026
Bonhams Paris To Offer Antique, Signed Jewels

The live fine jewelry auction will take place later this week, showcasing antique pieces, rare gemstones, and signed jewels.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy