Canada became the third largest producer of diamonds in 2003, behind Botswana and Russia, but ahead of South Africa, the government statistics agency announced Tuesday.
”Canada has become a major player in the international diamond scene” representing 15% of world production in 2003, Statistics Canada said in a statement.
Between 1998 and 2002, Canadian companies mined about 13,8-million carats, diamonds collectively worth $2,8-billion Canadian dollars, it said.
Some $2,6 billion Canadian dollars (US$2-billion) was ploughed into developing production of the precious stones, representing 12% of investment in Canada’s mining.
Since diamonds were discovered in Canada in 1991, two mines have opened in the North-West Territories. Two others are due to enter production between 2005 and 2006.
As a result of the activity, ”Economic output in the Northwest Territories surged ahead 5,1% in 2002, fuelled by the Ekati mine running at full capacity and by construction of the Diavik mine, which neared completion,” the agency said.
”Not only is Canada rich in rough diamonds, but these rough diamonds are also high-quality,” Statistics Canada said.
The average price for a Canadian-mined diamond in 2001 was $228 per carat, in third place behind Namibia and Angola.
Since Canadian production and export of rough diamonds began in 1998, exports have accounted for two-thirds of the nation’s total diamond trade.
About 95% of exports to Belgium, with its diamond cutting centre in Antwerp, and Britain are in rough diamonds. – Sapa-AFP