Pause at NWT Diamond Mine Amid Weak Market ‘Serious News,’ Industry Minister Says

Pause at NWT Diamond Mine Amid Weak Market ‘Serious News,’ Industry Minister Says
An employee of De Beers Canada holds a 12.8 carrot diamond worth $1 million at the opening of their facility in Calgary on July 6, 2016. The Canadian Press/Jeff McIntosh
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De Beers Canada and Mountain Province Diamonds have paused a project at the mine they jointly own in the Northwest Territories.

Mountain Province says the Tuzo Phase 3 project at the Gahcho Kué mine has demonstrated strong potential, but the partners have decided to take a measured approach to development because of current market conditions.