71 / 90
68
FROM
D I SCOVERY
TO START OF
PRODUCT I ON
Time lapse to
development has
increased for
diamond mines.
Mir
Aikhal
Udachny
Orapa
International
Jwaneng
Jubilee
Argyle
Catoca
Ekati
Zarnitsa
Komsomolskya
Nyurba
Diavik
Arkhangelskaya
Victor
Snap Lake
Grib
Karpinskogo-1
Botuobinskaya
Gahcho Kué
Renard
M I NE
4 years
1 year
16 years
4 years
2 years
10 years
10 years
6 years
29 years
17 years
45 years
26 years
5 years
9 years
25 years
20 years
11 years
18 years
35 years
21 years
21 years
16 years
YEARS TO
PRODUCT I ON
average
5 years
average
20 years
average
16 years
average
22 years
LOOKING FOR BROADER ECONOMIC AND SOCIAL
CONTRIBUTIONS
The governments of many diamond producing
countries have a strong desire to ensure that
diamond extraction maximises local social and
economic benefits.
Diamond mining companies make substantial
direct and indirect contributions to local economic
development in most countries where they mine.
With lifespans that can cover decades, mining
projects require large-scale and long-term capital
investment, often reaching billions of US dollars.
This investment often attracts significant additional
inward investment to host countries. It results
in direct economic and fiscal benefits including
infrastructure development, provision of local
healthcare and education, direct employment, and
payment of taxes and royalties. Indirect benefits
include the development of a supply chain to support
the mining operations, skills development, indirect
employment and community support.
For example, in Canada, De Beers has numerous
comprehensive Impact Benefit Agreements (IBAs)
with aboriginal communities in the areas near the
company’s operations. These IBAs not only provide
compensation for any loss or potential loss of land
during the construction, operation and closure
of a mine, but they also provide a framework
regarding priorities for local training, employment,
business contracts, environmental management
and social investment in areas such as culture and
heritage activities.
In 2013, De Beers distributed more than US$5 billion
– or over 90 per cent of the value of total sales – to
governments, suppliers, employees, shareholders
and other finance providers. And of this, more than
US$3 billion was paid to stakeholders in Africa, where
De Beers has the greatest proportion of its operations.