The Diavik Diamond Mine produces gem-quality diamonds in remote Northern Canada. With construction of the C$1.3 billion (~ US$900 million) mine virtually complete, mining operations commenced in January 2003, several months ahead of schedule. Employing an operations workforce of approximately 600, the mine is ramping up to produce six million carats of diamonds annually with an average value of US$62 per carat (year 2000 valuation). The mine life is expected to be 20 years.
The Diavik mine is an unincorporated joint venture between Diavik Diamond Mines Inc. (60%) and Aber Diamond Mines Ltd. (40%). Both companies are headquartered in Yellowknife. Diavik Diamond Mines Inc. (DDMI) is a wholly owned subsidiary of Rio Tinto plc of London, England, and Aber Diamond Mines Ltd. is a wholly owned subsidiary of Aber Diamond Corporation of Toronto, Ontario.