Rio Tinto Group




2015 / 03 / 23




1.0% GPR

The Diavik mine is Canada’s largest diamond mine, located on a 20 sq km island in Lac de Gras, Northwest Territories, approximately 300 km from Yellowknife. Access to the mine is by air year-round and by a 425 km ice road in winter that operates for eight to ten weeks between January and March. Four diamond bearing kimberlite pipes are located just off the eastern shore of the island and although the pipes are relatively small, each having surface expressions less than 200 metres in diameter, they are high grade making Diavik one of the most profitable diamond mines in the world. The majority of Diavik’s products are gem-quality white stones, which are sold to select diamantaires.

Diavik began extracting diamonds in January 2003 and has since produced more than 120 million carats of high quality rough diamonds from the A154 South, A154 North and A418 pipes. Open pit mining from the three pipes has concluded and the ore bodies are currently being mined from underground. Rio Tinto announced the opening of a fourth pipe (A21) in the third quarter of 2018 and the current mine plan has production continuing until 2025. The 2021 Proven and Probable Reserves for Diavik totaled 5.4 Mt grading 2.2 ct/t diamond, based on minimum 1 mm diameter diamond cut-off grade and final re-crushing size of 6 mm.

In 2018, Rio Tinto revealed three of the finest rough diamonds from Diavik. The diamonds are collectively known as The Diavik Stars of the Arctic and include a 177.7 carat diamond, one of the largest and most valuable gem quality rough diamonds ever produced in Canada.

Recent Activity

    August 2023

    At Diavik, Rio Tinto will build the largest solar power plant across Canada’s territories, featuring over 6,600 solar panels that will generate approximately 4,200 megawatt-hours of carbon-free electricity annually for the mine. The solar plant is expected to cut diesel consumption by approximately one million liters per year and reduce emissions by 2,900 tonnes of CO2 equivalent, which is comparable to eliminating the emissions of 630 cars.

    January 2023

    In 2022, production for the year was 4.65 million carats, which was lower than the previous year due to lower throughput.

    December 2018

    The largest known diamond ever found in North America was recovered at Diavik, weighing 552 carats.

Use the link below to browse a list of available technical reports for the projects within Sandstorm’s portfolio. For the most up-to-date information on each project, please refer to the project operator or developer.

Investor Presentation

Download the latest Investor Presentation to learn why Sandstorm is a gold investment that stands out from the rest.


Asset Handbook

With 250 royalties acquired since 2009, we offer an exciting investment opportunity in a diverse portfolio of royalty assets. Discover all of Sandstorm’s royalties around the globe.


Annual Report

Our 2023 Annual Report includes our annual Financial Statements and Management Discussion & Analysis and a letter from Sandstorm’s President & CEO.


Sustainability Report

Learn more about Sandstorm’s approach to sustainability including our due diligence process, mining partnerships, and employee engagement.