Stornoway Diamonds
Stornoway Diamonds is a Canadian diamond producer that operated Quebec's first diamond mine, the Renard Mine, selling roughly 1.8 million carats annually (~1% of global supply) to global diamond traders and manufacturers via direct B2B channels. The company entered CCAA restructuring in October 2023 and in 2024 entered an agreement to sell the Renard mine site to Li-FT Power Ltd. for C$1.00.
- Company typePrivate
- Founded2001
- HeadquartersLongueuil, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Stornoway Diamonds does
Stornoway Diamond Corporation is a Canadian diamond exploration and production company headquartered in Longueuil, Quebec, with operating assets centered on the Renard Diamond Mine in the James Bay region of north-central Quebec. The Renard Mine is Quebec's first diamond mine and the company's sole producing asset; it features a 2.2Mtpa processing facility (incorporating TOMRA ore sorting technology) with average annual production of approximately 1.8 million carats over an initial 14-year mine life, representing roughly 1% of global diamond supply. Supporting infrastructure includes the Route 167 access road and the Clarence and Abel Swallow Airport. The mine produces rough diamonds sold via direct B2B channels to global diamond traders, manufacturers, and jewelry retailers under negotiated pricing (not publicly disclosed). Operational technology includes AI-controlled drilling, predictive maintenance, geospatial monitoring, closed-loop water recycling (75% freshwater reduction), and renewable energy integration (15% emissions reduction). Governance is anchored by the 2012 Mecheshoo Agreement with the Grand Council of the Crees and Cree Nation of Mistissini, and partnership declarations with the communities of Chapais and Chibougamau. The company entered CCAA restructuring in October 2023, and in June 2024 Li-FT Power Ltd. (LIFT) entered a binding call option to acquire the Renard mine site for C$1.00 plus option fees and care-and-maintenance funding, subject to court approval — indicating the parent entity is in insolvency while the underlying asset is being transferred to new ownership with potential lithium processing repurposing.
Stornoway Diamonds firmographics
Firmographics- Name
- Stornoway Diamonds
- Legal name
- Stornoway Diamond Corporation
- Website
- https://stornowaydiamonds.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Acquired
- Headcount range
- 51–100 employees
- Short description
- Stornoway Diamonds is a Canadian diamond producer that operated Quebec's first diamond mine, the Renard Mine, selling roughly 1.8 million carats annually (~1% of global supply) to global diamond traders and manufacturers via direct B2B channels. The company entered CCAA restructuring in October 2023 and in 2024 entered an agreement to sell the Renard mine site to Li-FT Power Ltd. for C$1.00.
- Ownership category
- akta.pro rank
Stornoway Diamonds industry classification
Industry- Product category
- Diamond Mining
- NAICS
- Nonmetallic Mineral Mining and Quarrying (2123)
- SIC
- Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400)
- akta.pro primary industry
- Rough Diamond Trading & Brokerage (CRAKAJAC)
- akta.pro secondary industry
- Mine Surveying & Geospatial Services (Survey, Drone/LiDAR, GIS, Grade Control) (IMAKAKAK)
Keywords
Where Stornoway Diamonds is headquartered
LocationHeadquarters
- HQ city
- Longueuil
- HQ country
- Canada
- HQ region
- North America
Offices4 records
Markets served
Stornoway Diamonds business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain
Revenue model
- Diamond Production and Sales: Primary revenue from mining and selling rough diamonds produced at the Renard Mine. The mine produces an average of 1.8 million carats per year over a 14-year mine life, representing approximately 1% of global diamond supply. Average diamond price estimated at US$190/carat based on mineral reserves valuation.
Go-to-market motion2 records
Distribution channels1 record
Marketing channels8 records
Stornoway Diamonds product offering
Product offeringCore offering
Stornoway Diamonds operates Quebec's first diamond mine, the Renard Mine, located in the James Bay region of north-central Quebec. The company mines kimberlite ore and processes it through a 2.2Mtpa facility to produce approximately 1.8 million carats of rough diamonds annually over a 14-year mine life, representing about 1% of global diamond supply. The rough diamonds are sold B2B to global diamond trading companies, jewelry manufacturers, and retailers through direct sales channels.
Product overview
Stornoway Diamonds operates as a Canadian diamond exploration and production company with a single focused operation: the Renard Diamond Mine in north-central Québec. The company operates a 2.2Mtpa processing facility producing approximately 1.8 million carats annually over a 14-year mine life, representing about 1% of global diamond supply. Supporting infrastructure includes the Route 167 access road and the Clarence and Abel Swallow Airport. The mine is governed by the Mecheshoo Agreement with the Cree Nation and operates under various environmental and sustainability frameworks.
Differentiator
Problem solved
Functional benefit
Products and services
- Renard Diamond Mine Quebec's first diamond mine, located near the Otish Mountains in the James Bay region of north-central Quebec. Produces an average of 1.8 million carats per year over an initial 14-year mine life, representing approximately 1% of global diamond supply. Sells rough diamonds B2B to global diamond traders and manufacturers.
Companies that use Stornoway Diamonds
Customer profileSegments2 records
Ideal customer profiles2 records
Stornoway Diamonds technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature7 records
Stornoway Diamonds partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered core, supporting and minor.
- Li-FT Power Ltd. (LIFT)coreLIFT entered into binding call option agreement to acquire the Renard diamond mine site for C$1.00, subject to court approval. LIFT paid C$12 million option fee and will fund C$18 million in care and maintenance costs during a two-year option period. Strategic interest in potentially repurposing Renard's 2.2Mtpa processing infrastructure for lithium processing alongside nearby Adina Lithium Project.
- Communities of Chapais and ChibougamaucorePartnership Declaration signed in July 2012 establishing framework for addressing mutual interests including communications, employment, economic diversification, and attracting new residents to the region. Created the Renard Liaison Committee to facilitate cooperation and communication throughout mine life.
- Grand Council of the Crees (Eeyou Itschee) and Cree Nation of MistissinicoreMecheshoo Agreement signed in March 2012 establishing the framework for long-term working relationships between Stornoway and Cree parties throughout all phases of the Renard diamond project. Agreement provides for training, employment, and business opportunities for Crees during construction, operations, and closure phases, establishes social, cultural and environmental principles, and includes financial benefit sharing mechanism.
- Cree Human Resources Development (CHRD)corePartnership for workforce development and employment support for Cree community members. CHRD provides support for Cree individuals seeking employment and training opportunities at the Renard mine.
- Ministère de l'Emploi et de la Solidarité sociale (Nord-du-Québec)supportingRegional employment ministry providing workforce support and employment services for the Northern Quebec region where the Renard mine operates.
- La Ruée vers le NordsupportingRegional workforce development organization supporting employment and training in the Chibougamau area.
- Comité sectoriel de main-d'œuvre de l'industrie des mines (CSMO)supportingMining industry workforce committee supporting training and employment in the mining sector across Quebec.
- Cree School BoardsupportingEducational institution serving Cree communities, partnering for education and training opportunities related to mine employment.
- Commission scolaire de la Baie-JamessupportingSchool board serving the James Bay region, supporting educational programs related to mining career pathways.
- Manoir Pierre-Guérette de ChapaisminorLocal community partner for Centraide fundraising and community support initiatives.
- La Guignolée de ChapaisminorCommunity charitable organization receiving support through company community engagement programs.
- La Fondation ExcelminorLocal foundation receiving support through community engagement initiatives.
- Université Laval (Département de génie minier et de la géologie)supportingAcademic partnership for mining engineering and geology research and development.
Scale indicators10 records
Recent moves6 records
Expansion highlights4 records
Stornoway Diamonds competitors and assessment
Company assessmentDirect peers
- Mountain Province Diamonds: Canadian diamond producer operating the Gahcho Kué mine in the Northwest Territories, joint venture with De Beers. Directly comparable to Stornoway as another mid-tier Canadian diamond miner producing rough diamonds for global markets.
- Lucara Diamond Corp: Canadian-listed diamond miner operating the Karowe Mine in Botswana, known for large and exceptional rough diamonds. Comparable mid-cap rough diamond producer selling into global trading channels.
- Arctic Canadian Diamond Company: Operates the Ekati Diamond Mine in the Northwest Territories, formerly Dominion Diamond Mines. Acquired out of CCAA restructuring in 2021, providing a near-identical restructuring precedent to Stornoway's current situation.
- Petra Diamonds: Mid-tier diamond producer operating the Cullinan, Finsch, and Koffiefontein mines in South Africa. Comparable as a publicly listed rough diamond producer with multi-asset operations and exposure to diamond price cycles.
- Gem Diamonds: Operates the Letšeng mine in Lesotho, a high-altitude diamond producer known for large exceptional stones. Comparable as a publicly traded mid-cap diamond miner with single-asset concentration.
Broad incumbents
- De Beers Group: The world's largest rough diamond producer by volume, now part of Anglo American. Operates mines globally and dominates midstream rough diamond sales and trading—directly comparable commercial activity to Stornoway but at vastly greater scale.
- ALROSA: Russian state-controlled diamond mining giant, the world's largest diamond producer by carat volume. Direct rough diamond peer but with a much larger reserve base and different jurisdictional profile.
- Rio Tinto Diamonds: Operates the Diavik Diamond Mine in Canada's Northwest Territories as part of its diversified mining portfolio. Comparable Canadian diamond production but within a much larger diversified miner.
Emerging players
- North Arrow Minerals: Canadian diamond exploration company with projects in Canada and Angola. Comparable as a Canadian-listed diamond explorer targeting kimberlite discoveries, though at an earlier stage than Stornoway's producing operations.
Others
- Li-FT Power Ltd (LIFT): Canadian lithium-focused company that entered a binding option to acquire the Renard mine site. Relevant as the strategic acquirer repurposing Stornoway's infrastructure for lithium processing, representing an adjacent mineral opportunity using the same asset base.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Stornoway Diamonds social profiles
Digital presenceStornoway Diamonds compliance and trust
Trust signalCompliance1 record
Stornoway Diamonds financial estimates
Financial estimateRevenue estimate
Valuation estimate
Stornoway Diamonds leadership team
Management profileNumber of profiles
Profiles7 records
Stornoway Diamonds funding detail
Funding detailFunding overview
Funding rounds3 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Stornoway Diamonds M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Stornoway Diamonds
What does Stornoway Diamonds do?
Stornoway Diamonds operates Quebec's first diamond mine, the Renard Mine, located in the James Bay region of north-central Quebec. The company mines kimberlite ore and processes it through a 2.2Mtpa facility to produce approximately 1.8 million carats of rough diamonds annually over a 14-year mine life, representing about 1% of global diamond supply. The rough diamonds are sold B2B to global diamond trading companies, jewelry manufacturers, and retailers through direct sales channels.
Is Stornoway Diamonds a public or private company?
Stornoway Diamonds is a private company. It is classified as unknown and is currently acquired.
When was Stornoway Diamonds founded?
Stornoway Diamonds was founded in 2001. It employs 51 to 100 people.
Where is Stornoway Diamonds based?
Stornoway Diamonds is headquartered in Longueuil, Canada, in the North America region.
How does Stornoway Diamonds make money?
One revenue line is on record: diamond Production and Sales.
Who are Stornoway Diamonds's main competitors?
Direct peers on record are Mountain Province Diamonds, Lucara Diamond Corp, Arctic Canadian Diamond Company, Petra Diamonds and Gem Diamonds. Broad incumbents are De Beers Group, ALROSA and Rio Tinto Diamonds. North Arrow Minerals is listed as an emerging player. Li-FT Power Ltd (LIFT) is listed as an others.
Does Stornoway Diamonds have an API?
No public API is recorded for Stornoway Diamonds.
What industry is Stornoway Diamonds in?
Stornoway Diamonds's product category is Diamond Mining. Its primary akta.pro industry code is CRAKAJAC, Rough Diamond Trading & Brokerage, with a secondary code of IMAKAKAK, Mine Surveying & Geospatial Services (Survey, Drone/LiDAR, GIS, Grade Control). Its NAICS code is 2123 and its SIC code is 1400.