NWT wants to keep diamond cutting, polishing in Canada - March 30, 2003

Providing coverage of Alaska and northern Canada's oil and gas industryMarch 2003

Vol. 7, No. 13

Week of March 30, 2003

NWT wants to keep diamond cutting, polishing in Canada

Gary Park, PNA Canadian correspondent

The Northwest Territories is pressing the Canadian government to rewrite rules, compelling companies to keep diamond-finishing work in Canada or lose the right to put a “Made in Canada” imprint on the gems.

Martin Irving, the Northwest Territories’ director of diamond projects, said about 93 percent of Canadian diamonds, by value, are exported in rough form.

Canadian diamonds carry a premium because of their quality and the fact they don’t come from countries that use the revenues to finance terrorism and rebellion.

Irving said a change could see 10 to 15 percent of diamonds from Northwest Territories mines being cut and finished in Canada.

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