- Business
- Tahera Diamond Corporation (TAHEF) engages in the exploration, development, and mining of diamond deposits primarily in Canada, with a historical focus on the Jericho Diamond Mine in Nunavut, Canada's third diamond mine and the territory's first. The company, founded in 1999 through the amalgamation of Lytton Minerals Ltd. and New Indigo Resources Inc. and headquartered in Toronto, Ontario, previously operated an open-pit mine producing diamonds from kimberlite ore, supported by a 2,000-tonne-per-day processing plant, maintenance facilities, and related infrastructure; it also held interests in exploration properties such as the Rockinghorse Group of claims and the Muskox kimberlite. During production from 2006 to 2008, Tahera yielded approximately 780,000 carats from 1.2 million tonnes of kimberlite and maintained a diamond marketing alliance with Tiffany & Co., which provided financing and purchase rights.
In recent years, Tahera has faced significant financial challenges, filing for creditor protection under the Companies' Creditors Arrangement Act in January 2008 amid operational difficulties, high costs, and cash constraints at Jericho, leading to suspension of mining operations that month. The company placed the Jericho mine and other assets up for sale in 2010, culminating in their acquisition by Shear Diamonds (TSX-V: SRM), after which Tahera entered delisting proceedings on the TSX and ceased active operations. As of 2025, Tahera remains a dormant shell entity trading over-the-counter with negligible market capitalization, while ongoing litigation surrounds the abandoned Jericho site, including disputes over cleanup responsibilities for an explosives plant involving the Kitikmeot Inuit Association, Dyno Nobel, and federal authorities.