The gem, dubbed the Lesedi La Rona, is
the largest diamond mined in over a century and is a a 1,109 - carat gem - quality stone.
That's worrisome for the Northwest Territories, home to Canada's two
largest diamond mines, Ekati and Diavik.
The decision to sell the retail arm of the business to focus on mining follows Harry Winston's move late last year to acquire BHP Billiton's 80 % stake in Ekati for $ 500 million, Canada's first and
largest diamond mine.
While Canada is already one of
the largest diamond mining countries in the world, trailing only Botswana and Russia, the country still has tremendous untapped potential.
Experience the magnificent Bungle Bungle ranges after taking in vast lakes, irrigation areas, spectacular ranges, huge cattle stations, mineral exploration sites, dam walls, and
the largest diamond mine in the world.
Not exact matches
Canada's newer
mines, such as De Beers» Snap Lake, or those in development (like Gahcho Kué, a joint venture between De Beers and Mountain Province
Diamonds currently in environmental assessment) aren't
large enough to fill the void.
But as Lucara has continued to process kimberlite, the igneous rock that sometimes contains
diamonds, the company has been able to show a random distribution of very
large stones in the
mine's south lobe.
While some major
mines have closed and other commodity plays have outshone
diamonds over the past decade, Canada remains the third
largest producer by value and fifth
largest by volume globally.
«This exceptional top - quality
diamond is the
largest to be
mined to date and highlights the unsurpassed quality of the Letseng
mine,» Chief Executive Officer Clifford Elphick said in a statement.
«The end - buyer will likely be an ultra-ultra high - net - worth
diamond collector,» said Martin Potts, a London - based
mining analyst at FinnCap Ltd. «There will be huge prestige in owning the
largest diamond that's not part of a royal collection.»
By: Robyn Wilkinson 16th December 2016
Mining services company Murray & Roberts Cementation will complete its contract at
diamond miner Petra
Diamonds» Gauteng - based Cullinan
mine this month, concluding the
largest portion of the R4 - billion Phase 1 expansion project that will initially extend the
diamond mine's life span by about 15 year →
Mountain Province
Diamonds (MPV: TSX; MDM: NYSE) receives development approval for the world's
largest and richest new
diamond mine.
The nature of the inclusions in these
large diamonds also explains why
diamond exploration and
mining mostly uncovers common varieties of
diamonds rather than rare
large ones.
Botswana's vast
diamond wealth has underpinned this boom (Jwaneng, the world's
largest and richest
diamond mine, was discovered when termites looking for water brought grains of
diamond to the surface), but, making it almost unique among its neighbors, the money has been carefully...
Local lore is that it is the
largest hand dug hole in the world, but apparently that honor is taken by the Jagersfontein
Mine, another diamond mine about 100 miles South - East of Kimber
Mine, another
diamond mine about 100 miles South - East of Kimber
mine about 100 miles South - East of Kimberley.
Yellowknife is already a major staging area for projects further north thanks to
large - scale
diamond mining at Ekati and Diavik in the Northwest Territories.