De Beers Diamonds to Invest in NWT Communities

Diamond company De Beers Canada, as operator of the Gahcho Kue project in Canada’s Northwest Territories, has signed a socio-economic agreement with the territorial government for the diamond mine, announced partners De Beers and Mountain Province Diamonds.

The agreement formalizes commitments made with respect to employment, training, business opportunities and other related benefits for NWT residents. It also establishes measures to monitor possible socio-economic impacts related to the proposed mine and establishes the mechanism to work with communities close to the mine site to ensure that management adapts to the socio-economic performance of the mine.

Minister of Industry, Tourism and Investment David Ramsay said the agreement will not only create jobs for residents but also support the health and wellness of the region.

De Beers Canada President and CEO and Chairman of the Gahcho Kue JV Management Committee Tony Guthrie said the agreement ensured respect for the cultures and traditions of communities close to the mine.

The Gahcho Kue mine will have a mine life of approximately 11 years and will produce on average 4.5 million carats annually. It will employ up to 700 people during construction and approximately 400 people during operations.

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