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By Rose Ragsdale
Mining News 

Volatile markets bedevil diamond mines

De Beers writes down value of Northwest Territories' Snap Lake, while Tahera struggles to keep troubled Jericho in Nunavut afloat

 

Last updated 2/24/2008 at Noon



De Beers has written down the value of its Snap Lake diamond mine in the Northwest Territories by US$965 million in what management called a "prudent" move given the increased value of the Canadian dollar and higher costs and construction challenges at Canada's newest diamond mine.

The South African company is the second diamond miner to report financial problems in Canada, with Tahera Diamond...



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