De Beers Canada Releases 2011 Year in Review and Snap Lake Socio-Economic Report

Canada's leading diamond company positioned for strong growth

TORONTO, June 27, 2012 /CNW/ - The De Beers Canada 2011 Year in Review was released today, summarizing the company's performance in the areas of operations, finance, sustainability and contributions to Canada and the communities in which we operate. For the first time, it also includes the Snap Lake Socio-Economic Report, which details our commitments specific to the Northwest Territories.

The 2011 Year in Review is available for download from the Media Centre on the De Beers Canada website at www.debeerscanada.com.

The 2011 Year in Review captures key information about the company's Snap Lake Mine in the Northwest Territories, the Victor Mine in northern Ontario, the Gahcho Kué Project in the Northwest Territories, Exploration Division and social investment in Canada.

De Beers Canada President & CEO Tony Guthrie said the success in 2011 can be attributed to the commitment of employees, business partners and community partners to safe, secure, profitable and sustainable production. "It is inspiring to see the way our team works together to achieve remarkable results, while improving our overall safety performance," said Guthrie. "We will continue to focus on the sustainable growth of our Canadian assets through clear objectives and aggressive targets, both at our operations and in the field, which will position De Beers Canada for the next twenty years and beyond."

Highlights of the report include:

  • De Beers Canada employed 1,023 people and injected over $500 million directly into the Canadian economy.

  • Social investment totalled $4.9 million through cash, in-kind donations and staff time, with a primary focus on literacy, education and skills training for the communities near our mine sites.

  • At Snap Lake, $161 million was spent on good and services; $110 million (68 per cent) of this was supplied by northern businesses, and $40 million (36 per cent) of this total were provided by Aboriginal suppliers.

  • At Victor Mine, $101 million was spent on goods and services and $57 million (57 per cent) was supplied by Aboriginal businesses.

  • In July 2011, the 11,000 page Gahcho Kué Environmental Impact Statement submitted by De Beers Canada was deemed in conformity with the Terms of Reference issued by the Gahcho Kué Environmental Impact Review Panel.

The full 2011 Year in Review, including photos and audio clips, can be downloaded from www.debeerscanada.com/files_3/publications.php

About De Beers Canada
De Beers has been active in Canada for nearly 50 years and is the only diamond company in Canada with two operating mines and a proposed third mine. The Snap Lake Mine is located in the Northwest Territories and is Canada's only fully underground diamond mine. The Victor Mine in northern Ontario is an open pit mine and the first and only diamond mine in the history of Ontario. De Beers Canada is also a joint venture partner in the Gahcho Kué Project in the Northwest Territories. Advanced exploration is currently underway at the Victor Mine, targeting a cluster of 15 previously identified diamond-bearing kimberlite pipes. De Beers Canada Exploration is also active across the country.

SOURCE De Beers Canada Corporation

For further information:

Tom Ormsby
Director
External and Corporate Affairs
De Beers Canada Inc
T: 1 (416) 645-1710 x 2151
C: 1 (416) 525 5328
Tom.Ormsby@debeerscanada.com

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De Beers Canada Corporation

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