Please note that we are sharing this message on behalf of Diavik.
March 24, 2025
Recent Diavik town hall meetings
I am writing to provide a summary of recent staff town hall meetings held at Diavik earlier this month. These regular quarterly meetings are an opportunity to discuss key updates and share information on our progress and future plans. Key highlights from the recent meetings are as follows:
Production challenges in 2024: Diavik faced significant production challenges last year, partly due to the tragic Fort Smith plane incident in January and a number of geotechnical and weather issues. The challenging diamond market further impacted our operations. As has been publicly reported, Diavik incurred a loss of $126 million USD in 2024.
Strategic direction: Diavik recently presented to Rio Tinto executives our plan to safely deliver on our production targets through to closure. Support was given for Diavik’s continued operation to our planned closure in March 2026, however there will be regular reviews to ensure we remain on track.
Future outlook: We expect to increase our diamond production in 2025 and are constantly reviewing and managing our costs to ensure we run a safe and profitable operation that is resistant to external market pressures. We must earn the right to continue operating through safe operation, managing costs, and hitting our production targets.
Key Life of Mine milestones:
Mine development is expected to be completed in June or July 2025, as planned.
Cemented rock fill underground will be completed in October 2025.
Mining of A154 South will be finished in December 2025.
Commercial production is scheduled to cease at the end of March 2026.
Employee impact: Diavik’s headcount will be reduced as the above milestones are reached, with the first reduction expected in July. Letters will be provided to the first group of impacted employees shortly. We intend to provide letters to all employees impacted in 2025 by the end of April. Employee reductions have always formed part of the plan and we will always attempt to give as much notice as possible.
Support for departing employees: We are committed to giving our departing employees as much notice as possible. Every employee at Diavik has had access to our MyPath employee transition program to help them prepare for the next step in their career. We will hold the next round of job fairs on site in April and May to bring companies from across the NWT and Canada to interview those who are interested. Every direct Diavik employee will also receive a competitive completion bonus and severance package.
Commitment to safety and respect: Ultimately, we are committed to delivering the end of production at Diavik with safety above all, and with the utmost respect for our team members and community partners.
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