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Fact Sheet: Victor Diamond Mine

Archived Bulletin

Fact Sheet: Victor Diamond Mine

  • The Victor Diamond Mine, located near Attawapiskat, is Ontario's first diamond mine.  
  • The mine started production in July 2008 and has created 600 construction jobs and 400 new full-time jobs.
  • DeBeers Canada has invested $1 billion in the Victor Diamond Mine.
  • The Victor Diamond Mine is expected to contribute $6.7 billion to the Ontario economy over its estimated 12 year life span.
  • At full production, the Victor Mine produces around 600,000 carats of diamonds annually.
  • Ontario and DeBeers Canada have agreed to keep 10 per cent of the Victor Mine's diamond production available for cutting and polishing in Ontario. This is expected to create 50 direct jobs and result in $100 million worth of diamonds cut and polished in the province over next two years.
  • Aboriginal communities around James Bay have benefited from jobs, training programs and infrastructure improvements, as well as $175 million in joint business ventures related to the mine.
  • The very first cut and polished diamond from the Victor Mine will be placed in Ontario's Mace.

Did you know?
  • Ontario's mineral production is worth over $7 billion.
  • Ontario's tax rate for mining is among the lowest in Canada.
  • Ontario has invested $10 million in the Centre of Excellence in Mining Innovation at Laurentian University. 
  • Ontario is investing $20 million over four years for geological mapping of the Far North.