Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
08 March 2013, Yellowknife, NT – Diavik Diamond Mines Inc., in partnership with the Yellowknife Community Foundation, is pleased to announce the establishment of the Diavik Community Scholarship Fund.
With an initial donation of C$25,000, the Diavik Community Scholarship Fund will support tertiary education for students from Canada’s Northwest Territories and West Kitikmeot region of Nunavut.
According to Diavik Diamond Mines Inc. President and Chief Operating Officer, Niels Kristensen, “The establishment of the Diavik Community Scholarship Fund strengthens Diavik’s commitment to northern skills development which underpins our approach to sustainable development.”
The Diavik Community Scholarship Fund is open to Northwest Territories or West Kitikmeot students with a priority for Aboriginal students seeking a college diploma or university degree or related trade certification program in the resources industry.
Over the past ten years of operation, Diavik’s scholarship programs have awarded over C$2 million through over 1,400 individual scholarships to residents of the Northwest Territories and Nunavut’s West Kitikmeot region. Scholarships, awarded annually, include those facilitated through the five neighbouring Aboriginal groups, with whom Diavik has participation agreements, as well as scholarships for Diavik employee family members.
About the Diavik Diamond Mine
The Diavik Diamond Mine, located 300 km. northeast of Yellowknife, Northwest Territories, is an unincorporated joint venture between Diavik Diamond Mines Inc. (60%) and Harry Winston Diamond Limited Partnership (40%). Both companies are headquartered in Yellowknife, Canada. The Diavik Diamond Mine, a Canada’s Top 100 Employer, is a wholly owned subsidiary of Rio Tinto plc of London, England, and Harry Winston Diamond Limited Partnership is wholly owned by Harry Winston Diamond Corporation of Toronto, Canada. Website: www.diavik.ca
About Rio Tinto Diamonds
Rio Tinto is one of the world’s major diamond producers through its 100 per cent control of the Argyle mine in Australia, 60 per cent of the Diavik mine in Canada, a 78 per cent interest in the Murowa mine in Zimbabwe. These three mines allow Rio Tinto to produce diamonds for all market segments. Rio Tinto also has an advanced diamond project in India. Rio Tinto’s share of the production from its three operating mines is sold through its Diamonds Sales and Marketing headquarters office in Antwerp, Belgium with representative offices in Mumbai, Hong Kong and New York. Rio Tinto Diamonds is a leading supporter of the Kimberley Process, a founding member of Responsible Jewellery Council and the first mining company to be certified by the Responsible Jewellery Council. Website: www.riotintodiamonds.com
