[miningmx.com] – DE BEERS has put its Snap Lake diamond mine in Canada into mothballs, said BDLive citing an announcement by the company which has Anglo American as its 85% shareholder.
It would take up to nine months to put the mine on care and maintenance in which 434 workers would lose their jobs. Snap Lake was De Beers’ first mine outside Africa and its fifth-biggest source of diamonds, said BDLive.
“The men and women at Snap Lake have put enormous effort into this challenging ore body over many years, but even the gains made this year are not enough to overcome the market conditions (that have) put us in an unprofitable position,” said De Beers Canada CEO Kim Truter.
Snap Lake accounted for 1.2 million carats of De Beers’ output of 1.8 million carats from two operational mines in Canada last year, said BDLive.
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