Robert Gannicott, who helped discover Diavik diamond mine, dies at 69

Robert Gannicott, who helped discover and develop the N.W.T.'s Diavik diamond mine and who founded the company now known as Dominion Diamond Corporation, has died at the age of 69.

In a news release, Dominion Diamond said Gannicott died Wednesday morning afteran "extended battle with leukemia."

"It is a sad day at Dominion," wrote Brendan Bell, who succeeded Gannicott as CEO of Dominion Diamond.

"Bob Gannicott was a visionary and a pillar of the Canadian diamond industry. He built the company from the ground up, taking it from a junior mining company to what it is today as Canada's largest independent diamond producer.

"Bob was an exceptional leader as well as a good friend and mentor, he will be deeply missed by all who had the good fortune to work with him and to know him."

Helped discover Diavik

Gannicott, a geologist by training,was among the many mineral explorers who flooded the Northwest Territories after Chuck Fipke discovered the deposit that became the Ekati diamond mine.

Gannicott's company, West Viking Exploration, merged with Gren Thomas' Aber Resources before Aber discovered the Diavik deposit.

While Gannicott was Aber's president, the company sold its one-third stake in the Snap Lake diamond deposit to De Beers.

Aber eventually became Harry Winston Diamonds before transforming into Dominion Diamond Corporation in 2013.

As the main owner of Ekati and the 40-per-cent owner of Diavik, Dominion has quickly become a major producer of diamonds worldwide.

Fascination with diamonds

Asked in 2013 by Up Here Business magazine why big companies such as BHP Billiton and Rio Tinto were moving away from diamonds, Gannicott betrayed his fascination with the intricate nature of the diamond industry.

"Because it's too complicated. With diamonds, once you get past putting a hole in the ground, the rest of it is completely different: the way that diamonds are processed, the way the material that's recovered is handled, the way it's sold. Then you have extreme amounts of governance and security.

"I don't think anybody cares if you want to jump down from your truck at an iron ore mine, pick up a lump of iron ore and take it home, whereas a diamond can easily fit behind your ear it represents more than a year's income for the guy handling it."

Gannicott retired as chairman of Dominion Diamond in April. He had already stepped down as CEO by then.