NWT holds pride of place: third in global diamond production, fourth in value
16 October 2023
(Yellowknife, NT – October 16, 2023) The value of Canadian diamond production as reported by the Kimberley Process, was $1.88 billion in 2022, from sales of 16.2 million carats. This compares to a value of $1.51 billion in 2021 from sales of 17.6 million carats. In terms of global production, the share of diamonds produced by Canada ranked third in the world in 2022; in terms of value, fourth. The Northwest Territories (NWT) holds pride of place in Canadian diamond production, producing almost all (~90%) of Canada’s production, and giving the territory a prominent position globally.
[See chart in pdf of this release]
Kimberly Process statistics show global diamond production in 2022 was 120 million carats, up 1% from 119 million carats in 2021. At the same time, the value of this 2022 production was $16.0 billion, an increase of 24% from$12.9 billion in 2021.
“The NWT has been among the top global producers of diamonds since the early 2000s. NWT diamond potential remains high, and rejuvenated exploration could help find new deposits to sustain production and the important role diamond mining plays in the health of the territory’s economy. While the Diavik mine is closing in three years, cost reductions related to the adoption of new diamond mining and recovery technologies, construction of the planned Slave Geological Province all season road, and new, cleaner hydropower, could also contribute to sustaining future production with all its important benefits to communities, businesses, and governments,” said NWT & Nunavut Chamber of Mines President Kenny Ruptash. [See: 2022 Socio-Economic Agreement Report for mines operating in the Northwest Territories]
For detailed 2022 production and value statistics for all diamond producing countries, visit the Kimberley Process web site here. The Kimberley Process unites administrations, civil societies, and industry in reducing the flow of conflict diamonds – ‘rough diamonds used to finance wars against governments’ – around the world.
For more information on the NWT and Nunavut mining industries, please visit the Chamber of Mines website at www.miningnorth.com or www.miningnorthworks.com or contact Tom Hoefer, Executive Director at Tel: 867-873-5281, ext. 2, or by email: firstname.lastname@example.org.