Canada Opens Third Diamond Mine - Sep.2006

Canada’s Prime Minister Stephen Harper was on hand for the opening of the $120 million Tahera diamond mine, which opened in Nunavut.

The Prime Minister says the mine, Canada’s third, will help make Canada a leader in the industry. It is now the world’s third largest diamond producer.

Tahera first began producing diamonds in January 2006. The stones from the mine will be purchased and marketed by Tiffany. In June, miners found a 59-carat diamond estimated to be worth about $400,000.

It's estimated the Jericho mine will produce more than 375,000 carats of diamonds per year over seven to nine years.

Canada’s other two mines, Ekati and Diavik, located just over Nanavut’s border in the Northwest Territories, produced more than $1.7 billion worth of diamonds last year.  v