Ekati Diamond Mine and Stewart Blusson who had been prospecting in the region for almost ten years, having found kimberlite indicator minerals as early as 1985. The Point Lake kimberlite was determined to be uneconomic, but its discovery precipitated one of largest staking rushes in mining history, covering most of the area between Yellowknife and the Arctic coast. There are 156 known kimberlite pipes within the Ekati block of claims, including the Point Lake pipe. Ekati officially began operations on October 14, 1998, and was operated by BHP Billiton Canada Inc., a part of the BHP Billiton Group, the world's largest diversified resources
Ekati Diamond Mine 62-million-year-old kimberlite pipes (Creaser et al., 2004) of the Lac de Gras kimberlite field, most of which lie underneath shallow lakes. Between 1998 and 2009, the mine has produced 40 million carats () of diamonds out of six open pits. As the high grade ore close to surface was depleted, development was completed to access the ore utilizing underground methods. Currently, there is one underground operation (Koala) with open-cut mining occurring in Fox Pit. The mine's current annual production is estimated to be approximately 7.5 million carats () of diamonds. Ekati supplies rough diamonds to the global market through its