Diamond Mine Quebecs First

Quebecs First Diamond Mine

Canada is close to constructing Quebecs first diamond mine which is the world’s largest undeveloped source of precious gemstones.

Stornoway Diamond has begun finishing negotiations with three parties which includes the Orion Mine Finance Group, Resources Quebec and Caisse de depot et placement du Quebec. After the negotiations have been completed, it has been speculated that the construction plans will quickly be completed and put into motion.

The construction for the diamond mine is expected to begin sometime this year and completed for commercial production for June 2016.

The diamond mine production estimate totals roughly 17.6 million carats, with an average of 1.6 million per year. Stornoway Diamond and partners look for the diamond mine to yield $5 billion in revenue per year.