Diavik was established following the discovery of four diamond-bearing deposits, called kimberlite pipes, in 1994 and 1995.
Diavik began producing diamonds in January 2003, and the company sold its first rough diamonds in March that year. Diavik diamonds are highly regarded in the international commercial marketplace particularly for their white colour and good clarity. Diavik’s exceptional grades make it one of the most valuable diamond mines in the world.
Dominion Diamond Mines does not operate the Diavik Diamond Mine. The mine is operated by Diavik Diamond Mines (2012) Inc., a subsidiary of Rio Tinto plc, one of the world’s largest and most highly regarded mining companies. Under the joint arrangement, Rio Tinto operates the mine and Dominion Diamond pays 40 per cent of the mine’s operating and capital costs while receiving 40 per cent of the mine’s diamond output.
The mine plan is built on four diamond-bearing kimberlite pipes. The three kimberlite pipes currently being mined, A154 South, A154 North, and A418, are very high grade. The fourth pipe, A21, is currently in development with the first kimberlite production anticipated by the end of 2018. The current mine plan is expected to take the mine’s production to 2025.