Diamond Mining Industry

They have been captivating persons for centuries. In 1953, video celebrity Marilyn Monroe commemorated them in song. In 1971, Agent 007 James Bond chased lawless individuals trying to smuggle them. Now they are setting the finances of the Northwest Territories on fire.

The exhilaration started in 1991 when these bright prized pebbles of untainted carbon were found out at Point Lake beside Lac de Gras in the Northwest Territories. Since then, two precious gem mines have started production: EKATI1 and Diavik2 , both in the Northwest Territories. A third mine, the Jericho3 task, just north of EKATI in Nunavut, is anticipated to be in output in 2005. The Snap Lake4 task, furthermore in the Northwest Territories, is anticipated to start output in 2006.

A relation latecomer, Canada is now a foremost contestant in the worldwide precious gem scene. Not only is Canada wealthy in precious gems, it is wealthy in high value diamonds. From 1998 to 2002 approximately 13.8 million carats have been mined, collectively worth $2.8 billion. This is approximately a 1.5-kilogram bag of ice each day for five years, with each bag worth $1.5 million.

Recent output facts and numbers propose that by the end of 2003 Canada will have made nearly 15% of the world's provide of precious gems, the third biggest manufacturer of precious gems, behind Botswana and Russia.

Diamond excavation is supplementing a new lustre to the Canadian finances and dazzle to that of the Northwest Territories. Current tasks are assisting considerably, both economically and communally, to Canada and especially the North.

The influence of this commerce displays no signal of abating. The EKATI and Diavik precious gem mines are anticipated to be viable procedures for the next 11 and 20 years, respectively. Once they are up and running, Jericho is anticipated to function for eight years, and Snap Lake for about 18 years. Several tasks are at the sophisticated investigation stage in other districts of Canada. This item profiles one of Canada's most dynamic industries: precious gem mining.

BHP Billiton Diamonds Inc., Diavik Diamond Mines Inc. and Aber Diamond Mines Ltd. have marked waivers permitting their statistics on output, paid work, capital buying into and trade to be published. Statistics Canada appreciates this sign and thanks them for the permission to use the facts and numbers in this article.

The Northwest Territories was set abuzz with the breakthrough of precious gems in 1991. Two precious gem mines have opened since then: the EKATI Diamond mine, which started output in 1998 and the Diavik Diamond mine, which opened in 2003. A third mine, Snap Lake, is anticipated to start output in 2006. As a outcome, the Northwest Territories is flourishing both communally and economically with rises in whole household merchandise and in high-paying jobs.

The NWT's finances rushed ahead 5.1% in 2002, fuelled by the EKATI mine running at full capability and by building of the Diavik mine, which neared completion. Diamond excavation accounted for just over 20% of the Northwest Territories' GDP.

Ancillary commerce, for example non-residential building, wholesale and transport, have furthermore ...