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February 08, 2016 12:44 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 Toronto, Canada. De Beers Canada, Inc. operates as a subsidiary of De Beers Société Anonyme.

900-250 Ferrand Drive

Toronto, ON M3C 3G8


Founded in 1998





Key Executives for De Beers Canada, Inc.

Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Age: 53
Senior Vice President of Mineral Resource Management
Compensation as of Fiscal Year 2015.

De Beers Canada, Inc. Key Developments

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.

GGL Resources Corp Announces Termination of 1995 Doyle Joint Venture with De Beers Canada, Inc

GGL Resources Corp. announced that an agreement has been signed with De Beers Canada Inc. to the mutual satisfaction and benefit of both parties whereby the 1995 Doyle Joint Venture and subsequent amendments has been terminated. Under the terms of the Agreement, De Beers will transfer its 60% share held via the JV, in claims LA5, LA6, LA8 and LA9 (respectively now, the leases 4734, 4735, 4737, and 4738) to GGL, in return for GGL releasing its 40% share in LA7 and its share in the Extra 2, Extra 3 and Extra 4 claims (respectively now, the leases 4736, 4730, 4731, and 4732) to De Beers. In addition, De Beers will pay a total of $300,000 to GGL.

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