The Canadian Diamond Industry
Canada has a booming diamond industry that many people have begun to look to as one of the major suppliers in the world. Did you ever think that the diamond you are wearing might have come from Canada? Well, this is now a possibility. Let’s take some time and look into the diamonds that are produced by the Canadian Diamond Industry. You never know how this will affect the market and how things will change in the diamond game. You have to get your diamonds from somewhere, and right now Canada looks like as good of an option as ever. What is the driving force behind this booming industry?
The World Stage
The 1990s is when the Canadian diamond industry saw the biggest rise in prominence. The Northwest Territories were the home to some top class diamond bearing deposits. The first diamond mine Ekati was opened in 1998. Ekati produced one million carats of diamonds in only 6 months. Now it generally produces anywhere between 3 million carats and 5 millions carats. This is the very beginning of what has become the successful industry. Just under two decades has made it a baby in the diamond producing world.
Other Mines
In 2003 Canada opened up a second mine, Diavik. This has an average carat production of six to eight million per year. It is also responsible for about five percent of the entire world supply of diamonds. Jericho is the third mine that was opened in 2006. Snap Lake mine will be opened soon and it will be the fourth mine that is located in the country. All these mines have provided Canada will job support, and has really helped out the economy there. As long as there are diamonds in Canada new mines will find a way to get there.
Industry Value
Right now in Canada the diamond industry is worth over two billion dollars. Close to 13 million carats are produced in diamonds every year, and the diamond demand from Canada is just growing and growing. It has really stepped up to become a major force, and does not look to be on hold anytime soon. If you want to get in on an industry with diamonds then Canada looks like a sure bet. Plus, these diamonds are also known for their supreme quality. They are also not blood diamonds which makes them very strong indeed.
