Dominion Diamond Mines ULC recently recovered “the largest known gem quality diamond ever found in North America”, the Company said. 

“The 552 carat yellow Canadamark™ diamond was unearthed in October at the Diavik Diamond Mine (Diavik), approximately 135 miles south of the Arctic Circle in Canada’s Northwest Territories,” reported the Company, which is a 40% owner of the mine. “The find far surpasses the previous record held by the Diavik Foxfire at 187.7 carats, which was also recovered at the same mine in 2015.”

“This incredible discovery showcases what is truly spectacular about Canadamark diamonds,” commented Kyle Washington, Chairman of Dominion Diamond Mines. “The colour and texture of the diamond are a unique example of the journey that natural diamonds take from their formation until we unearth them. Our Diavik Mine has produced some of the most beautiful diamonds in the world, and this one certainly tops the list.”

The remarkable diamond came to light while passing through the initial screening process at Diavik’s recovery plant. “Abrasion markings on the stone’s surface attest to the difficult journey it underwent during recovery, and the fact that it remains intact is remarkable,” the Company noted. “Measuring 33.74mm x 54.56mm and weighing exactly 552.74 carats, a diamond of this size is completely unexpected for this part of the world and marks a true milestone for diamond mining in North America and Canadamark diamonds overall.”

The colour, texture and structure are also unique from a geological perspective, Dominion stated, adding that the gemstone “may be studied further”.

The Company has announced that the diamond will not be sold in its rough form. Rather, due to the “significance of the discovery”, Dominion said it will select a partner in the coming weeks who will be entrusted with cutting and polishing the stone.

“The size and highly technical nature of this stone means that only a handful of master cutters in the world are qualified to polish it, ensuring that the stone’s beauty, colour and brilliance are maximized,” the Company elaborated.  “Dominion expects to achieve a significant main stone once the diamond is polished, that will be Canadamark certified.”

Currently, the diamond is undergoing evaluation, and hence it is too early to determine the ultimate value of the diamond, Dominion opined. “However, when polished, the Diavik Foxfire yielded a 37.87 brilliant-cut pear shape and a 36.80 brilliant-cut pear shape that were both recently auctioned as part of Christie;s Magnificent Jewels and were purchased for US$ 1.3 million,” Dominion noted.