De Beers Canada to relocate Toronto headquarters

Reports suggest that De Beers Canada is relocating its Toronto headquarters to Calgary, Alberta.

The current market conditions are part of the reasons for the shift, reports add. De Beers engages 100 employees in Toronto and over 1,000 in Canada. Its mining operations include in Timmins, Ontario, and the Snap Lake mine in Northwest Territories, and now the company is also building the Gahcho Kue in the same region, reports say.

The shift is likely to be effected next year in June as part of the company’s restructuring and to give better and efficient support to its Canadian diamond mines, reports add. Some of the mine employees will be relocated to Calgary as part of the restructuring, which is expected to reduce staff numbers, as per reports.

De Beers is 85 percent owned by Anglo American and 15 percent by Republic of Botswana.