New diamond mine official opening set for Sept. 20

De Beers Canada is extolling the benefits of its Gahcho Kue diamond mine ahead of the mine's official opening later this month, billing it as "the biggest and richest new diamond mine in the world."

"It's a big deal," said chief executive Kim Truter.

"It's a big deal for the N.W.T., for Canada, for De Beers and for Anglo American."

Anglo American owns 85 per cent of De Beers, according to its website.

According to De Beers, between 2006 and 2015, development of the Gahcho Kue mine pumped $440 million into the Northwest Territories economy, with another $350 million spent in the rest of Canada.

So far, the territorial and federal governments have collected $20 million in revenue as a result of the mine, most of it from income tax paid by mine workers. Another $4 million has been paid to the six aboriginal groups that signed Impact Benefits Agreements for the mine.

 

Read the full story here: CBC News