Victor Mine near Attawapiskat will be closing its doors in early 2019.
De Beers says the diamond mine has been a model mine, but it has reached the end of its life.
Chief Executive Officer for De Beers Canada Kim Truter says this will affect its over 500 employees.
Truter says the mine will remain open for now but demolition plans are underway.
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She says employees have the opportunity to transfer to its other mines across Canada.
The demolition process is expected to take three to five years.
(Written By: Mackenzie Read)
