{{Short description|Diamond mine in Nunavut, Canada}} {{Infobox mine | name = Jericho Diamond Mine | image = Jericho Diamond Mine pit Nunavut Canada.jpg | width = | caption = Jericho Diamond Mine from the air | pushpin_map = Canada Nunavut#Canada | pushpin_map_caption = Location | coordinates = {{coord|65|59|50|N|111|28|30|W|region:CA-NU|format=dms|display=inline,title}} | place = | subdivision_type = [[Provinces and territories of Canada|Territory]] | state/province = [[Nunavut]] | country = Canada | owner = Shear Diamonds Ltd. | official website = [http://www.sheardiamonds.com/jericho.html www.sheardiamonds.com/jericho.html] | acquisition year = 2010 | stock_exchange = | stock_code = | products = | financial year = | amount = | opening year = {{Start date|2006}} | active years = | closing year = 2008 }}
The '''Jericho Diamond Mine''' is a dormant [[diamond]] [[Mining|mine]] located in [[Canada]]'s [[Nunavut]] territory. Jericho is Nunavut's first and only diamond mine. It is located {{Convert|420|km|abbr=on}} northeast of [[Yellowknife]], [[Northwest Territories]] and is accessible by air all year and by [[winter road]] from Yellowknife. The project was mined from 2006 to 2008, and produced {{convert|780000|carat|kg lb|lk=in|0}} of diamonds from {{convert|1200000|t|lk=in}} of [[kimberlite]] mined from the open pit operation. Over $200 million was invested in the development of the Jericho operations including the construction of a {{convert|2000|t|abbr=on}} per day diamond recovery plant, maintenance facility, fuel farm, and offices and accommodation for 225 personnel.
On July 19, 2010, Shear Diamonds (née Shear Minerals Ltd) ({{tsxv2|SRM}}), a diamond exploration company focused on the Nunavut region, announced its purchase of the Jericho Diamond Mine.<ref>{{Cite web |url=http://www.marketwire.com/press-release/Shear-Minerals-Ltd-to-Acquire-Jericho-Diamond-Mine-Nunavut-TSX-VENTURE-SRM-1292163.htm |title=Press release announcing sale |access-date=2011-01-08 |archive-date=2011-06-16 |archive-url=https://web.archive.org/web/20110616032126/http://www.marketwire.com/press-release/Shear-Minerals-Ltd-to-Acquire-Jericho-Diamond-Mine-Nunavut-TSX-VENTURE-SRM-1292163.htm |url-status=dead }}</ref> In late 2010, Shear announced that it would take about a year to devise a plan to reopen the mine.<ref>{{Cite web |url=http://www.israelidiamond.co.il/english/News.aspx?boneID=918&objID=8451 |title=Shear plans to reopen mine |access-date=2011-01-08 |archive-url=https://web.archive.org/web/20101229112456/http://www.israelidiamond.co.il/english/News.aspx?boneID=918&objID=8451 |archive-date=2010-12-29 |url-status=dead }}</ref> Shear began processing the existing recovery reject pile in early 2012, selling the recovered stones to Belgian diamond firm Taché,<ref>{{cite news|title=Nunavut's 1st diamond mine could re-open|url=https://www.cbc.ca/news/canada/north/nunavut-s-1st-diamond-mine-could-re-open-1.1127977|access-date=14 January 2012|newspaper=CBC.ca|date=4 January 2012}}</ref> which provided a revolving line of credit. However, operations were suspended in September, as Shear, citing "limited funds and significant operations", has sought to minimize expenditures. Taché has given notice of default on certain covenants of their investment agreement, but is working with Shear to find funding or a purchaser.<ref>{{cite news|url=http://www.jewelryne.ws/shear-diamonds-updates-financial-and-operational-status-continues-to-seek-transaction-to-allow-project-to-advance/ |archive-url=https://archive.today/20130421225438/http://www.jewelryne.ws/shear-diamonds-updates-financial-and-operational-status-continues-to-seek-transaction-to-allow-project-to-advance/ |url-status=dead |archive-date=21 April 2013 |access-date=4 November 2012 |newspaper=jewelryne.ws |date=23 October 2012 }}</ref>
==Operations== The mine was developed, opened and operated by [[Tahera (mining company)|Tahera Diamond Corporation]]. The company was provided with [[Canadian dollar|CAN $]]35 million loan by [[Tiffany & Co.]] to assist in construction of the site, as part of a marketing alliance. The mine produced diamonds from 2006 to February 2008, and was Tahera's only mining operation. The company reported financial losses in 2007 due to operational difficulties, the high value of the Canadian dollar, high oil prices, and the short operating season of the [[Tibbitt to Contwoyto Winter Road|Tibbitt to Contwoyto]] [[ice road]] in 2006. Tahera filed for protection from creditors in January 2008, and the mine stopped recovering diamonds once existing ore stockpiles ran out, one month later.
There is no registered airport at the site, so all heavy equipment had to be brought in by the Tibbitt-to-Contwoyto winter road. Due to the remoteness of the site, the mine was part of the impetus for a proposal to build a [[port]] near the community of [[Bathurst Inlet, Nunavut|Bathurst Inlet]] with a road to both the [[Diavik Diamond Mine]] and the [[Ekati Diamond Mine]].
==Production== The mine was estimated to be able to produce {{convert|375000|carat|kg lb|abbr=on|0}} a year with a value of CAN $25 million. In the first half of 2006 the mine had processed {{convert|210000|t|abbr=on}} for {{convert|126918|carat|kg lb|abbr=on|0}}.
==See also== * [[Jericho pipe]]
== Notes and references == {{Reflist}}
== External links == * [https://web.archive.org/web/20120621022937/http://www.sheardiamonds.com/ Shear Diamonds] * [http://www.tahera.com/Operations/Exploration/JerichoProperty/default.aspx Tahera Diamond Corporation - Jericho exploration] * [http://www.tahera.com/Operations/Mining/JerichoDiamondMine/default.aspx Tahera Diamond Corporation - Jericho Diamond Mine] * [https://web.archive.org/web/20060614050238/http://ainc-inac.gc.ca/nr/prs/s-d2003/02378abk_e.html Government of Canada - backgrounder on "Mining in the North"] * [https://www.cbc.ca/news/canada/construction-begins-on-nunavut-diamond-mine-1.548233 CBC report on construction of the mine] * [https://web.archive.org/web/20060813142600/http://www.nnsl.com/opps2006/intro.html NNSL "Opportunities North" - deep water port at Bathurst Inlet] * [http://www.tachediamonds.com/ Tache Alliance - diamond and jewellery company]
{{Subdivisions of Nunavut}}
[[Category:Diamond mines in Canada]] [[Category:Mines in Nunavut]] [[Category:Buildings and structures in Nunavut]] [[Category:Kitikmeot Region]] [[Category:2006 establishments in Nunavut]] [[Category:2008 disestablishments in Nunavut]]