Shear Diamonds misses NIRB report deadline

The Nunavut Impact Review Board still hasn't heard from Shear Diamonds, owner of the abandoned Jericho diamond mine.

The companyshuttered the Jericho diamond mine site last September due to declining diamond prices. Shear Diamonds bought the Jericho mine site in 2010 after the previous owners went bankrupt.

A federal inspection of the site in September found that hazardous waste wasn't stored properly and there was evidence of fuel spills not cleaned up.

The NIRB requested a number of outstanding reports from Shear by February 5th.

Now the NIRB is asking the Kitikmeot Inuit Association and Aboriginal Affairs and Northern Development Canada whether Shear had complied with required licences and permits.

Under the terms of its water licence, Shear Diamonds was to have posted a security bond for $3.4-million with the federal government. But a site inspection report dated September 13th noted Shear had an outstanding security of $1-million.

The Kitikmeot Inuit Association has told CBC News it's satisfied with its security arrangements with the company.

Aboriginal Affairs and Northern Development Canada has not commented on the situation.

The Jericho mine is located 350 kilometres southwest of Cambridge Bay. It is Canadas third and Nunavuts first diamond mine.