Diamond industry giant De Beers Canada was given the okay by the Gahcho Kue Environmental Impact Review Panel. The panel affirmed that the mine-to-be's Environmental Impact Statement met its rigorous terms of reference. The environmental review process will be entirely complete in July 2013.

"This is exciting news for De Beers Canada and our joint venture partner, Mountain Province Diamonds," said De Beers Canada President and CEO Tony Guthrie. "The Gahcho Kue Project team has worked very hard to produce an EIS that demonstrates Northern Canada's next diamond mine can be built and operated sustainably and with respect for the land, water and communities nearby."

The statement was filed in December 2010, and the last parts were turned in last month. The definitive feasibility study for the mine was approved by the joint venture partners less than a month ago.

The Gahcho Kue Project is located in Canada's Northwest Territories, some 280 kilometers northeast of Yellowknife and less than 100 kilometers from De Beers Canada's Snap Lake Mine. The new mine would produce 4.5 million carats per year, according to the plans to mine the three kimberlite pipes over 11 years.