Astonishing diamond found in Canada’s Northwest Territories

The stone was uncovered while passing through the initial screening process at the Diavik Diamond Mine in the North Slave Region of the Northwest Territories, Canada, about 300 kilometers (190 miles) northeast of Yellowknife.

The Diavik Diamond Mine is a joint venture between the Rio Tinto Group (60 percent) and Dominion Diamond Corporation (40 percent) and is operated by Yellowknife-based Diavik Diamond Mines Inc., a subsidiary of Rio Tinto Group.

“This incredible discovery showcases what is truly spectacular about Canadamark diamonds,” states Kyle Washington, Chairman of Dominion Diamond Mines said in a statement.

“The color and texture of the diamond are a unique example of the journey that natural diamonds take from their formation until we unearth them. Our Diavik Mine has produced some of the most beautiful diamonds in the world, and this one certainly tops the list.”

Diavik Diamond Mine is an industrial complex set in a remote, sub-Arctic landscape.

Trevor MacInnis

Jim Pounds, Dominion Diamonds vice-president of diamonds told CBC Canada, “I hope my dreams for this diamond come true.” He believed the natural chicken-egg shape could lend well to a 150-carat, oval, yellow colored gem.

It is an unexpected occasion to find an intact diamond of such a magnificent size in the Northwest Territories. Pounds says there is a reason for this.

“Canadian diamonds are some of the oldest in the world,” he said. “They almost go back to the beginning of the formation of Earth itself and individually, Canadian diamonds are over three-billion years old, many of them.” The color, texture, and structure of the diamond are also unique from a geological perspective – and this means the gemstone will be studied. With all this to be concerned about, Dominion will have to be very selective in who they get to cut and polish the stone.

Dominion expects to achieve a significant main stone once the diamond is polished, that will be Canadamark certified. It is also too early to determine what the diamond’s value will be once it is cut and polished.

However, when polished, the Diavik Foxfire yielded a 37.87 brilliant-cut pear shape and a 36.80 brilliant-cut pear shape that were both recently auctioned as part of Christies Magnificent Jewels and were purchased for $1.3 million.