De Beers Shuttering Canada Diamond Mine in Commodities Rout
- Snap Lake mine being put on `care and maintenance' status
- More than 400 workers in Northwest Territories losing jobs
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A diamond mine in Canada’s Northwest Territories is the latest casualty of slumping commodity prices.
Anglo American Plc’s De Beers said Friday it started the process of shuttering its Snap Lake diamond mine, putting it on care and maintenance status. Since it opened in 2008, the mine has never made a profit.