Following 23 years of operations and the recovery of more than 150 million carats of rough diamonds, Rio Tinto's Diavik Diamond Mine ceased production on March 24, 2026 — marking the end of an era that once seemed improbable from the very beginning.
Set beneath the icy waters of Canada's Lac de Gras, just 220 kilometers south of the Arctic Circle, Diavik was never a typical diamond mine. When diamond-bearing kimberlite pipes were discovered in 1991, few believed that such a remote, frozen landscape could yield a steady supply of gem-quality stones.
As Rio Tinto Iron & Titanium and Diamonds Managing Director Sophie Bergeron noted, “Forty years ago there were very few people who believed there were diamonds in Canada — even fewer could have foreseen how the Diavik story would unfold.”
What followed was a triumph of engineering and determination. Dikes were built to hold back the frigid lake waters, allowing access to four kimberlite pipes hidden beneath the surface.
“To arrive at this milestone has required vision, courage and determination to overcome significant challenges to mine diamonds beneath a frozen lake in one of the world’s most remote and pristine ecosystems,” Bergeron added.
From those unlikely beginnings emerged a steady stream of exceptional stones — primarily high-quality white diamonds, but also a handful of rare and unforgettable colored gems. Among them, none captured the imagination quite like the legendary “552,” a 552.74-carat yellow diamond unearthed in 2018. Roughly the size of a chicken egg, it remains one of the largest gem-quality diamonds ever discovered in North America.
We had the rare opportunity to view the extraordinary rough at Phillips in New York City in February 2021, where it was displayed ahead of its transformation into a polished gem. The spectacle was unforgettable — a glowing, bi-color crystal shifting from vibrant yellow to near-white.
That remarkable rough would eventually yield an equally dazzling result: "The Dancing Sun," a 204.36-carat fancy intense yellow cushion-cut diamond with VVS2 clarity. When it crossed the auction block at Christie's in New York in June 2021, it achieved nearly $5 million, cementing its place as the largest polished yellow diamond ever cut in North America.
Other notable finds from Diavik include the 187.7-carat “Diavik Foxfire” and a 158.2-carat yellow diamond recovered in 2025 — rare flashes of color from a mine best known for its icy white brilliance.
While production has ended, Diavik’s story is far from over. Closure and environmental reclamation efforts will continue through 2029, reflecting a long-standing commitment to restoring the land and honoring partnerships with Indigenous communities. Meanwhile, the final parcels of rough diamonds will continue to be polished and sold through Rio Tinto’s global network.
Credits: Diavik mine image courtesy of Rio Tinto. Phillips exhibition images by The Jeweler Blog. Image of “The Dancing Sun” courtesy of Christie’s.