The Diavik Diamond Mine is a diamond mine in the North Slave Region of the Northwest Territories, Canada, about 300 kilometres (190 mi) north of Yellowknife. It has become an important part of the regional economy, employing 700, grossing C$100 million in sales, and producing 8 million carats (1,600 kg (3,500 lb)) of diamonds annually.

The Diavik Diamond Mine is an underground diamond mine located in the Northwest Territories of Canada, approximately 300 km northeast of Yellowknife. It is owned by a joint venture between Rio Tinto Group (60%) and Dominion Diamond Mines (40%). The mine is located on an island in Lac de Gras, part of the East Arm of Great Slave Lake, and is the second largest diamond mine in Canada.

The mine consists of two open pits, as well as an underground mine which is accessed via two underground tunnels. The ore is processed at a state-of-the-art processing plant, which is capable of processing up to 6.2 million tonnes of ore per year. The plant is capable of producing up to 1.2 million carats of diamonds per year.

The mine is a major contributor to the economy of the Northwest Territories, providing employment for more than 1,000 people, and contributing more than $2 billion in economic activity to the region. It is also an important source of revenue for the local Indigenous communities, providing royalties, employment and training opportunities.

The mine has also been praised for its environmental stewardship, with a strong focus on environmental protection and sustainability. The mine has implemented several initiatives to reduce its environmental impact, such as its zero-waste policy, its water conservation efforts, and its commitment to reclamation and rehabilitation of the mine site.

The Diavik Diamond Mine is an important contributor to the economy of the Northwest Territories, providing employment and economic benefits to the local communities, while also ensuring that the environment is protected and preserved.