Canada Mining Region Gets Second Manufacturer

RAPAPORT… A new company created by the founder of RDI Diamonds has received government approval to manufacture rough produced in Canada’s Northwest Territories.

Diamonds de Canada, set to open this fall, will provide jobs and training for local residents of the arctic region, the Government of the Northwest Territories (GNWT) said last week. The decision will help ensure that manufacturing activities, such as cutting and polishing, remain in the area.

“As the GNWT’s diamond industry continues to diversify into the manufacturing of diamonds, residents will be exposed to new training and job opportunities that will strengthen their communities and the territory as whole,” said Caroline Wawzonek, minister of industry, tourism and investment for the Northwest Territories. “The success of our approved…diamond manufacturers will mean the success of our territory’s ability to diversify economically in an existing industry that has already brought economic prosperity to the [Northwest Territories].”

Michael Indelicato, founder of Rochester, New York-based wholesaler RDI, set up Diamonds de Canada together with industry consultant Benjamin King. The company will use an automated cutting and shaping system that minimizes its carbon footprint, the government noted. Once it opens, Diamonds de Canada will be the second manufacturer in the region, alongside Almod Diamonds.

The Northwest Territories is home to three major diamond deposits: the Ekati mine, owned by Arctic Canadian Diamond Company; Rio Tinto and Dominion Diamond Mines’ Diavik site; and Gahcho Kué, a joint venture between De Beers and Mountain Province.

Image: Rough diamonds from the Diavik mine. (Diavik Diamond Mines)