Snap Lake Diamond Mine Project

The Snap Lake Diamond Mine is located about 220 kilometers north east of Yellowknife, Northwest Territories, and upon finalization will be the first De Beers mine outside South Africa and Canada's first completely underground diamond mine. Construction began with the opening of an access winter road in 2005 and so far close to CAD $805 million has been spent on the project. Upon completion of the project in 2007, De Beers expects to employ 500 people, with 250 people working in the mine at any given moment. Lifetime of the mine is estimated to be 20 years. De Beers expects to produce 1.1 million tons annually with 1.2 carats per ton with an average value of US $144.
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