Canada’s Ekati Diamond Mine to Shut by Mid-August After Nearly 30 Years
Updated
Updated · National Jeweler · Jul 21
Canada’s Ekati Diamond Mine to Shut by Mid-August After Nearly 30 Years
3 articles · Updated · National Jeweler · Jul 21
Summary
Ekati, a diamond mine in Canada’s Northwest Territories, is expected to cease operations by mid-August, ending a run of nearly 30 years.
The report identifies the shutdown as the latest major development in Canada’s northern diamond sector, though it gives no immediate reason for the closure.
The mine has been one of the Northwest Territories’ best-known diamond operations, making the closure significant for regional supply and employment.
Its shutdown adds to pressure on the natural-diamond industry as miners and retailers navigate weaker demand and growing competition from lab-grown stones.
Can marketing make natural diamonds the 'Rolex' of gems, or has the mystique of rarity vanished forever?
With lab diamond prices in freefall, are jewelers selling a depreciating asset as a timeless symbol of love?
The End of Ekati: How the Northwest Territories Faces the Loss of 3,000 Diamond Mining Jobs and a $600 Million Industry
Overview
The Ekati Diamond Mine, a major economic driver in the Northwest Territories since 1998, is set to shut down in mid-August 2026 after its operator, Arctic Canadian Diamond Company, filed for creditor protection. This follows a severe global downturn in diamond prices, which also led to the closure of the Diavik Diamond Mine and struggles at Gahcho Kué, including paused expansion and workforce reductions. As Ekati winds down, owners are allocating millions to cover employee pay and taxes, while local governments and Indigenous communities mobilize support for affected workers. The region now faces a significant economic shift as its diamond industry contracts.