The new location is set to open this winter, featuring the retailer’s first rotating jewelry designer residency.
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.

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.
The Latest

The pop artist appears in the latest campaign for the “Laurence Graff Signature” collection.

One-of-a-kind pearls take the shape of ice cream cones, frogs, submarines, and other imaginative charms.

Colored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.

Sponsored by Rio Grande Jewelry Supply


The American jewelry house, founded by Latvian immigrants, has been creating American flag brooches since 1917.

The artwork celebrates the Atlanta jeweler’s legacy and symbolizes its commitment to supporting local artists and its community.

DCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.

Its team can evaluate jewelry and watches, as well as luxury handbags, artwork, and collectibles.

Falling oil prices were a factor in the slight month-over-month improvement.

The new offering comprises more than 120 bridal and engagement ring styles with natural and lab-grown diamonds.

The clock is part of the celebration for the soon-to-open Rolex headquarters on New York City’s Fifth Avenue.

The public relations professional is remembered for her benevolent generosity and unwavering commitment to those around her.

The new watch commemorates Pokémon’s 30th anniversary.

The luxury retailer is now called Exemplar Luxury Group.

The “Lady” collection is a new take on old beauty standards with gemstone-adorned hair pins and combs, a compact mirror necklace, and more.

The new line is included in the e-tailer’s curation of jewelry celebrating America’s 250th anniversary.

All active members who earned their credential or designation before Dec. 1, 2025, are required to recertify.

The new jewelry collection uses a colorful palette of onyx, malachite, tiger’s eye, mother-of-pearl, lapis, turquoise, and coral.

Lee Michaels Fine Jewelry is celebrating 30 years in the Ridgeland, Mississippi community.

Sean Milliner has joined the company.

Classes will begin in August at GIA’s new Canary Wharf location.

A ring set with “hogback” diamonds, an early stone cut dating to around the 16th century, sold for more than $20,000 at a U.K. auction.

The rainbow version of the ring, our Piece of the Week, features angel-cut, octahedral lab-grown sapphires designed to be worn as armor.

The new initiative donates a portion of the proceeds from select charms to charitable causes.

The Brooklyn-based jeweler created a limited-edition version of its “Aura” eternity band, set with gemstones in the team’s colors.

Dallow will lead the International Colored Gemstone Association, effective July 6.





















