Abandoned Nunavut diamond mine now belongs to the Crown – Nunatsiaq News
December 19, 2014
Court documents show Shear Diamonds has legally forfeited assets and mineral leases
Nunavut’s first and only functioning diamond mine, which changed hands a few times before being deemed “closed or abandoned” about a year ago, has officially changed hands again.
The Jericho mine, about 240 kilometres southeast of the western Nunavut community of Kugluktuk, is now owned by the Government of Canada.
Representatives from Aboriginal Affairs and Northern Development Canada filed legal documents this past fall at the Nunavut Court of Justice to take possession of the mine’s assets after its former owners, Shear Diamonds (Nunavut) Corp. defaulted on a debenture agreement.
