The Government of the Northwest Territories has approved Diamonds de Canada Ltd. as an official NWT diamond manufacturer.
The agreement ensures that Diamonds de Canada has access to NWT-mined rough diamonds, and that the company鈥檚 manufacturing activities, which include cutting and polishing, will occur in the NWT.
Benjamin King, CEO of Diamonds de Canada, was discussing a revised policy framework in the NWT in February 2020, which is what led to approval of this agreement.
鈥淐OVID happened and it took us about a year and a half to work our way through the process,鈥� said King. 鈥淭hen it ended up basically culminating in today鈥檚 [Aug. 25] announcement.鈥�
King鈥檚 time in Yellowknife assisted him and his colleagues in wanting to to be an 鈥渋ntegral part of the community.鈥�
The company is working to refine its processes and configure its equipment, preparing for a formal opening sometime this September or October, according to King.
鈥淲e already are processing diamonds [in the NWT] 鈥� cutting and polishing diamonds,鈥� he said. 鈥淢ost of our technology, though, is very unique, very preparatory and custom. So, basically it鈥檚 getting the software languages to speak between the different pieces of equipment that were built around the world, and once we鈥檙e at a good point, we will showcase the diamonds to the community.鈥�
Diamonds de Canada will be hiring and training NWT residents to operate the technology while also providing instruction on traditional polishing methods.
鈥淲e鈥檝e already hired local people,鈥� said King. 鈥淎nd we鈥檙e looking to hire more as we grow.鈥�
The company鈥檚 business model includes the use of an automated cutting and shaping system that will minimize its footprint while allowing it to be on par with some of the world鈥檚 most advanced manufacturers.
鈥溾�� the GNWT鈥檚 diamond industry continues to diversify into the manufacturing of diamonds,鈥� Industry Minister Caroline Wawzonek stated. 鈥淩esidents will be exposed to new training and job opportunities that will strengthen their communities and the territory as whole. The success of our approved NWT diamond manufacturers will mean the success of our territory鈥檚 ability to diversify economically in an existing industry that has already brought economic prosperity to the NWT.鈥�
