Canada’s Northwest Territories Diamond Mines Are Closing

New York Times - WorldCenter-LeftEN 7 min read 100% complete by Matina Stevis-Gridneff and Pat KaneDecember 9, 2025 at 11:00 AM

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Canada's Northwest Territories, a region boosted by gold and later diamond mining, faces economic uncertainty as its three major diamond mines are set to close by the end of the decade. The first mine, owned by Rio Tinto, will close in March 2026. These mines have been a significant source of revenue and employment, especially for Indigenous communities. The closures are driven by declining demand for natural diamonds due to the rise of cheaper, lab-grown alternatives, and tariffs imposed on India, a major diamond processing hub. The Northwest Territories, once the world's third-largest diamond exporter, is now grappling with the question of its economic future as its diamond mining era ends.

Key Entities & Roles

Key Player Opposition Context

India 50% Rio Tinto ×260% Northwest Territories ×370% Canada ×280%

Keywords

diamond mining 100% northwest territories 90% mine closure 80% economic impact 70% lab-grown diamonds 60% indigenous people 60% rio tinto 50% resource economy 50% gold rush 40%