Canadian diamonds – changing the industry
8 July 2008
Canada has become the world’s third largest diamond supplier rivaling the industries of Russia and Botswana. The largest diamond polishing facility in Canada has an output of more than 2500 carats per month and the country’s total diamond production value exceeds $2 billion.
Diamonds from Canada are percieved to be socially and environmentally responsible as companies participating in the voluntary code of conduct agree that diamonds have been “mined to the highest environmental standards in the world, they have provided social benefits to the northern communities and have brought about important economic prosperity to the region.”
However, only those diamonds certified by the Government of Northwest Territories (GNWT) are guaranteed to be mined, cut and polished in Canada. Canadian diamonds without this level of certification are often cut and polished in Asia or Africa where softer labor and human rights policies exist.
