Diamonds

Canadian diamonds have been very successful in the marketplace. They are high-quality diamonds that have been very popular in the gemstone and jewellery markets where people are excited to support the diamond industry of their own country. Most of the mined rough diamonds are exported because only a small number of diamond cutters in Canada produce finished stones.

Many diamonds that have been mined and cut in Canada are documented and have their certificate number laser-inscribed on their girdle along with a trade logo such as a maple leaf, polar bear, CanadaMark symbol, or the words “Ice on Fire.” This inscription assures consumers of their diamond’s origin, connects it to the certificate, and has been a very successful marketing feature.

Canadian diamonds also appeal to people who are concerned about environmental and human rights issues. They are produced from diamond mines that have some of the world’s highest environmental standards. In addition, the proceeds of the mines go to legitimate companies instead of groups who have obtained the diamonds through forced labor, theft or other exploitation. The certification process allows the stones to be tracked from mine through manufacturing, wholesaling and to the retail consumer.

Compared to rough diamonds produced in other parts of the world, the diamonds produced from Canadian mines are very high quality which supports a high average price per carat. This is good news for mining companies. In recent years, Canada has been one of the top three diamond-producing countries in the world on the basis of carats produced.

As of 2017, Canada had five producing diamond mines:

  1. Diavik Diamond Mine in the Northwest Territories (NWT);
  2. EKATI Diamond Mine in the Northwest Territories (NWT);
  3. Gahcho Kué Diamond Mine in the Northwest Territories (NWT);
  4. Le Renard Diamond Mine in Quebec; and
  5. Victor Diamond Mine in Ontario.

A Clear Look at Diamonds (Infographic by Visual Capitalist)

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