The Northwest Territories hosts several major diamond mines that have transformed the territorial economy since the 1990s. Mines including Diavik and Ekati near Yellowknife produce significant portions of global diamond supply. Diamond mining creates employment, generates royalty revenues, and supports Indigenous participation through impact benefit agreements. However, mines are finite resources with eventual closure, requiring economic diversification planning. Environmental considerations include managing mine sites, protecting caribou habitat, and handling closure and reclamation. Municipal and territorial governments balance economic benefits against environmental and social impacts while preparing for the post-mining economy.