Diavik Diamond Mine This is the largest diamond ever found in North America. Diavik Diamond Mine The Diavik Diamond Mine is a diamond mine in the North Slave Region of the Northwest Territories, Canada, about northeast of Yellowknife. Diavik Diamond Mine is an industrial complex set in a remote, sub-Arctic landscape. It consists of four kimberlite pipes associated with the Lac de Gras kimberlite field and is located on an island in Lac de Gras and is informally called East Island. It is about south of the Arctic Circle. In the 2015 satellite image below, one can see the two main open pits,
Argyle diamond mine of the open pit; these reserves would be mined underground (by block caving), rather than the open pit method currently used. In late 2005, Rio Tinto Ltd concluded that the operation was economically feasible. Pre-production construction of the underground mine commenced in early to mid 2006 The Argyle diamond mine is economically feasible because its large reserves and high-grade ore offset a low average diamond value. The estimated value of Argyle diamond production is only US$7 per carat ($35/g); this compares to values of $70 per carat ($350/g) for diamonds produced at the Diavik mine and US$170 per carat ($850/g)