De Beers begins production at world's largest new diamond mine

Anglo American's De Beers subsidiary began commercial production on Thursday at Canada's Gahcho Kué, which is said to be the world's largest new diamond mine in the last 13 years.

De Beers owns a 51% stake in the Gahcho Kué joint venture, with partner Mountain Province Diamonds owning the remaining share.

The mine's production launch was made on budget and ahead of schedule.

The mine is expected to produce approximately 54m carats of rough diamonds over its lifetime.

"Today marks a significant landmark for De Beers in Canada as Gahcho Kué becomes an important contributor to the group's global production," said De Beers CEO Bruce Cleaver.

He claimed the mine was set to deliver "socio-economic benefits of more than C$5bn" to the economy of the Northwest Territories over its lifetime.