The chances of finding a diamond mine in Canada are much greater than in the rest of the world, according to Robert Boyd, president and CEO of Ashton Mining of Canada, who spoke at the recent Cordilleran mineral exploration roundup in Vancouver.
Boyd painted a promising picture for the world’s most rapidly emerging diamond market, and pointed out that 17 (or 3.1%) of the 540 kimberlites found in Canada prior to 2003 were economic. By comparison, only 0.7% of the 6,395 kimberlites found across the globe were worth mining. That means the odds of finding a mine in the entire world are 1 in 133, compared with 1 in 32 in Canada.
Since its first major diamond discovery, in 1991, and the subsequent startup of two mines, Canada has graduated to third place among diamond producers, measured in terms of the value of the stones produced.
The country is attracting almost half the world’s diamond-exploration dollars, or $125 million a year. “This is another strong indicator that the diamond business sees Canada as its future,” Boyd said.
The discovery of the Ekati and Diavik mines in the Northwest Territories triggered a rush in the Lac de Gras region. But Boyd said the sparkling gems are increasingly turning up in other parts of the country, including Saskatechewan, Alberta, Nunavut and Quebec. At least 40 kimberlites were discovered across Canada last year.
“It is no longer a Northwest Territories phenomenon,” Boyd asserted. “It takes in most of Canada.”
— With notes from The Northern Miner staff.
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