The Jericho Diamond Mine is a dormant diamondmine located in Canada's Nunavut territory. Jericho is Nunavut’s first and only diamond mine. It is located 420 km (260 mi) northeast of Yellowknife, Northwest Territories and is accessible by air all year and by winter road from Yellowknife. The project was mined from 2006 to 2008, and produced 780,000 carats (156 kg; 344 lb) of diamonds from 1,200,000 tonnes (1,200,000 long tons; 1,300,000 short tons) of kimberlite mined from the open pit operation. Over $200 million was invested in the development of the Jericho operations including the construction of a 2,000 t (2,000 long tons; 2,200 short tons) per day diamond recovery plant, maintenance facility, fuel farm, and offices and accommodation for 225 personnel.
On July 19, 2010 Shear Diamonds (née Shear Minerals Ltd) (TSX-V: SRM), a diamond exploration company focused on the Nunavut region, announced its purchase of the Jericho Diamond Mine.[1] In late 2010, Shear announced that it would take about a year to devise a plan to reopen the mine.[2] Shear began processing the existing recovery reject pile in early 2012, selling the recovered stones to Belgian diamond firm Taché,[3] which provided a revolving line of credit. However, operations were suspended in September, as Shear, citing "limited funds and significant operations", has sought to minimize expenditures. Taché has given notice of default on certain covenants of their investment agreement, but is working with Shear to find funding or a purchaser.[4]
The mine was developed, opened and operated by Tahera Diamond Corporation. The company was provided with CAN $35 million loan by Tiffany & Co. to assist in construction of the site, as part of a marketing alliance. The mine produced diamonds from 2006 to February 2008, and was Tahera's only mining operation. The company reported financial losses in 2007 due to operational difficulties, the high value of the Canadian dollar, high oil prices, and the short operating season of the Tibbitt to Contwoytoice road in 2006. Tahera filed for protection from creditors in January 2008, and the mine stopped recovering diamonds once existing ore stockpiles ran out, one month later.
There is no registered airport at the site, so all heavy equipment had to be brought in by the Tibbitt-to-Contwoyto winter road. Due to the remoteness of the site, the mine was part of the impetus for a proposal to build a port near the community of Bathurst Inlet with a road to both the Diavik Diamond Mine and the Ekati Diamond Mine.
Productionedit
The mine was estimated to be able to produce 375,000 carats (75 kg; 165 lb) a year with a value of CAN $25 million. In the first half of 2006 the mine had processed 210,000 t (210,000 long tons; 230,000 short tons) for 126,918 carats (25 kg; 56 lb).
^. Archived from the original on 2010-12-29. Retrieved 2011-01-08.
^"Nunavut's 1st diamond mine could re-open". CBC.ca. 4 January 2012. Retrieved 14 January 2012.
^jewelryne.ws. 23 October 2012 https://archive.today/20130421225438/http://www.jewelryne.ws/shear-diamonds-updates-financial-and-operational-status-continues-to-seek-transaction-to-allow-project-to-advance/. Archived from the original on 21 April 2013. Retrieved 4 November 2012. {{cite news}}: Missing or empty |title= (help)
External linksedit
Tahera Diamond Corporation - Jericho exploration
Tahera Diamond Corporation - Jericho Diamond Mine
CBC report on construction of the mine
Tache Alliance - diamond and jewellery company
April 12, 2024
jericho, diamond, mine, dormant, diamond, mine, located, canada, nunavut, territory, jericho, nunavut, first, only, diamond, mine, located, northeast, yellowknife, northwest, territories, accessible, year, winter, road, from, yellowknife, project, mined, from,. The Jericho Diamond Mine is a dormant diamond mine located in Canada s Nunavut territory Jericho is Nunavut s first and only diamond mine It is located 420 km 260 mi northeast of Yellowknife Northwest Territories and is accessible by air all year and by winter road from Yellowknife The project was mined from 2006 to 2008 and produced 780 000 carats 156 kg 344 lb of diamonds from 1 200 000 tonnes 1 200 000 long tons 1 300 000 short tons of kimberlite mined from the open pit operation Over 200 million was invested in the development of the Jericho operations including the construction of a 2 000 t 2 000 long tons 2 200 short tons per day diamond recovery plant maintenance facility fuel farm and offices and accommodation for 225 personnel Jericho Diamond MineJericho Diamond Mine from the airLocationJericho Diamond MineLocationShow map of NunavutJericho Diamond MineJericho Diamond Mine Canada Show map of CanadaTerritoryNunavutCountryCanadaCoordinates65 59 50 N 111 28 30 W 65 99722 N 111 47500 W 65 99722 111 47500HistoryOpened2006 2006 Closed2008OwnerCompanyShear Diamonds Ltd Websitewww sheardiamonds com jericho htmlYear of acquisition2010On July 19 2010 Shear Diamonds nee Shear Minerals Ltd TSX V SRM a diamond exploration company focused on the Nunavut region announced its purchase of the Jericho Diamond Mine 1 In late 2010 Shear announced that it would take about a year to devise a plan to reopen the mine 2 Shear began processing the existing recovery reject pile in early 2012 selling the recovered stones to Belgian diamond firm Tache 3 which provided a revolving line of credit However operations were suspended in September as Shear citing limited funds and significant operations has sought to minimize expenditures Tache has given notice of default on certain covenants of their investment agreement but is working with Shear to find funding or a purchaser 4 Contents 1 Operations 2 Production 3 See also 4 Notes and references 5 External linksOperations editThe mine was developed opened and operated by Tahera Diamond Corporation The company was provided with CAN 35 million loan by Tiffany amp Co to assist in construction of the site as part of a marketing alliance The mine produced diamonds from 2006 to February 2008 and was Tahera s only mining operation The company reported financial losses in 2007 due to operational difficulties the high value of the Canadian dollar high oil prices and the short operating season of the Tibbitt to Contwoyto ice road in 2006 Tahera filed for protection from creditors in January 2008 and the mine stopped recovering diamonds once existing ore stockpiles ran out one month later There is no registered airport at the site so all heavy equipment had to be brought in by the Tibbitt to Contwoyto winter road Due to the remoteness of the site the mine was part of the impetus for a proposal to build a port near the community of Bathurst Inlet with a road to both the Diavik Diamond Mine and the Ekati Diamond Mine Production editThe mine was estimated to be able to produce 375 000 carats 75 kg 165 lb a year with a value of CAN 25 million In the first half of 2006 the mine had processed 210 000 t 210 000 long tons 230 000 short tons for 126 918 carats 25 kg 56 lb See also editJericho pipeNotes and references edit Press release announcing sale Shear plans to reopen mine Archived from the original on 2010 12 29 Retrieved 2011 01 08 Nunavut s 1st diamond mine could re open CBC ca 4 January 2012 Retrieved 14 January 2012 jewelryne ws 23 October 2012 https archive today 20130421225438 http www jewelryne ws shear diamonds updates financial and operational status continues to seek transaction to allow project to advance Archived from the original on 21 April 2013 Retrieved 4 November 2012 a href Template Cite news html title Template Cite news cite news a Missing or empty title help External links editShear Diamonds Tahera Diamond Corporation Jericho exploration Tahera Diamond Corporation Jericho Diamond Mine Government of Canada backgrounder on Mining in the North CBC report on construction of the mine NNSL Opportunities North deep water port at Bathurst Inlet Tache Alliance diamond and jewellery company Retrieved from https en wikipedia org w index php title Jericho Diamond Mine amp oldid 1058054697, wikipedia, wiki, book, books, library,
