Snap Lake Diamond Mine Snap Lake Diamond Mine Snap Lake Mine is a remote fly-in/fly-out operation located about northeast of Yellowknife, Northwest Territories, and, according to De Beers, was the first De Beers mine outside of Africa. It was also Canada's first completely underground diamond mine. Construction began with the opening of an access winter road in 2005. By the end of 2013, De Beers had spent US$1.8 billion on construction and mine operation. Of that total, De Beers spent US$1.3 billion with Northwest Territories-based contractors and suppliers, including US$723 million with Aboriginal businesses or joint ventures. The mine began commercial production on January
Yellowknife came from gold mining, and later government; however, because of falling gold prices and increased operating costs, the final gold mine closed in 2004, marking a turning point for Yellowknife's economy. After a downturn in the 1990s during the closure of the gold mines and the downsizing of the government workforce in 1999, Yellowknife's economy has recovered, largely because of the diamond boom; the Ekati Diamond Mine, owned and operated by BHP Billiton (sold to Dominion Diamond Corporation in 2013), opened in 1998. A second mine, Diavik Diamond Mine, began production in 2003. Production from the two operating mines in