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Diavik’s reserves are contained in three diamond ore bodies, called kimberlite pipes. The pipes, A154 North, A154 South, and A418, are small compared to the world average, but contain a higher than average content of attractive, high quality, and readily marketable diamonds. Large water retention structures, called dikes, were built to hold back the waters of Lac de Gras so Diavik can safely mine the kimberlite pipes located just off shore of East Island.

After a successful commissioning, and construction on budget and several months ahead of schedule, the Diavik Diamond Mine commenced production in 2003. In November 2008, Diavik's production surpassed 50 million carats of rough diamonds. The total mine life remains 16 to 22 years, as projected in the 1999 feasibility studies.

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