 On July 19, 2010 Shear Diamonds (née Shear Minerals Ltd) (), a diamond exploration company focused on the Nunavut region, announced its purchase of the Jericho Diamond Mine.In late 2010, Shear announced that it would take about a year to devise a plan to reopen the mine.Shear began processing the existing recovery reject pile in early 2012, selling the recovered stones to Belgian diamond firm Taché, which provided a revolving line of credit.