Desmond’s diamond mine hits €1.1bn paydirt

Dermot Desmond’s Canadian diamond mine has seen the value of its ‘in situ’ diamonds rise to $1.35 billion (€1.1 billion) on foot of new geological results.

Kennady Diamonds, which is related to Desmond’s Mountain Province Diamonds company, announced last week that it had completed a mineral resource estimate for part of its mine in the Northwest Territories in Canada.

The value of the ‘inferred mineral resource’ was 5 million carats of diamonds with ...