NWT commits millions to help prop up its diamond mines – Cabin Radio

April 22, 2025

The NWT is redirecting millions of dollars – including cash earmarked for emissions reduction projects – to help its three diamond mines, which are struggling.

In a Tuesday news release, the territorial government said “targeted relief measures” were needed because of “growing financial pressures and industry-wide uncertainty.”

All three operating mines northeast of Yellowknife – Diavik, Ekati and Gahcho Kué – have seen their owners report significant losses in the past year, driven in part by suppressed diamond prices as the market for lab-grown diamonds increases.

Read More: https://cabinradio.ca/233253/news/economy/mining/nwt-commits-millions-to-help-prop-up-its-diamond-mines/