July 28, 2016 5:58 PM ET

Metals and Mining

Company Overview of De Beers Canada, Inc.

Company Overview

De Beers Canada, Inc. explores and mines rough diamonds in Canada. The company was founded in 1998 and is headquartered in Calgary, Canada. De Beers Canada, Inc. operates as a subsidiary of De Beers Société Anonyme.

1601 Airport Road NE

Suite 300

Calgary, AB T2E 4Y9

Canada

Founded in 1998

Phone:

403-930-0991

Key Executives for De Beers Canada, Inc.

Chief Executive Officer
President
Chief Financial Officer
Chief Operating Officer
Age: 54
Senior Vice President of Mineral Resource Management
Compensation as of Fiscal Year 2016.

De Beers Canada, Inc. Key Developments

De Beers Canada Finishes Head Office move from Toronto to Calgary in Down Market

De Beers has officially opened its new Canadian headquarters in Calgary after relocating from Toronto as it prepares to open the biggest diamond mine under construction in the world. The new office is right next to the Calgary International Airport.

De Beers Canada Announces Cease of Operation at N.W.T. Snap Lake Diamond Mine

De Beers Canada announced that it is closing its Snap Lake diamond mine in the N.W.T., and has laid off 434 employees. The company is putting the mine under care and maintenance and mining will cease immediately. Closing the mine will require 190 employees, while the care and maintenance phase will require approximately 70 employees. Forty-one workers have been transferred to company's Gahcho Kue project, a diamond mine near the N.W.T.'s Kennady Lake, which is slated to open in 2016. The company announced that another 60 employees could be transferred to that project next year. A downturn in diamond prices and a costly water problem that required a licence amendment, they were looking at many options including shutting down the mine, located 220 kilometres northeast of Yellowknife.

De Beers and Mountain Province Diamonds Enters Joint Venture

De Beers Canada Inc. and Mountain Province Diamonds announced that an Impact Benefit Agreement (IBA) has been entered into with the NWT Metis Nation for the proposed Gahcho Kue diamond mine, a joint venture between De Beers and Mountain Province Diamonds located 280 km's northeast of Yellowknife, Northwest Territories. De Beers is the Operator of the Gahcho Kue Project. The IBA puts in place a framework for De Beers and the NWT Metis Nation to work together over the life of the mine to develop economic, environmental and cultural programs with NWTMN members. Gahcho Kue will employ close to 700 people during the two years of construction and approximately 400 people during its operational phase.

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