Israeli Diamond Portal Reports: Diamonds' Youngest Player - Canada

Nov. 2, 2009 - PRLog -- Canada is the youngest player in the world of diamond mining. In the last decade, Canada's diamond production gained from scratch to becoming the third largest in the world, with only 4 mines: Ekati, Diavik, Snap Lake and Victor, who just won the title "the mine of the year". The Canadian production has reached 10% of the global supply in means of carat and 14% in terms of American dollars.



Canada is the second largest country in the world after Russia, with an area of some 10 million sq.km. In addition to diamonds, Canada owns other natural resources, such as iron, copper, wood, natural gas, oil and more. These natural resources and Canada's geographic location just up to the U.S.A, and is the key for its economic stability and success. Today Canada is the world's ninth largest economy. Despite the fact that in 2008 there was a further deceleration due to the considerable dependency upon the US economy, the Canadian economy is expected to recover and achieve a growth rate of 2.3% in 2009.



The first diamond mine in Canada was discovered only in 1991 in the cold and almost arctic Northwest Territories, which led to the opening of the Ekati mine. But the search for diamonds in Canada began many years ago, and it is full with stories of desperate broke diamond hunters who left their family and life just to be the firsts to find indicates for diamonds in the wild. In discreet and on secret missions, De Beers and other diamond and mining companies sent spies and double agents to collect sand samples and inelegance.

Most of the searchers didn't even say they were looking for diamonds, and used gold as their reason. Among the famous and today's rich pioneers are Chuck Pipke, Stuart Blusson, Grenville Thomas and his daughter Eira, which was only 6 years old when he took her with him to the Canadian arctic.



Today the Canadian diamond industry is sort of a miracle. In such a short time, it managed to increase and expand its diamond production. The total diamond production in Canada for 2008 rose 30% from 2007, and summed at $2.25 billion.

Although the vivid diamond industry, polishing factories are not common in Canada. Recently Canada opened a new diamond exchange.

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The Israeli Diamond Industry organizations
Behind the Israeli Diamond Industry are a group of vital and dynamic institutions. Each one is responsible for a different aspect of the industry’s activities.