Canada: World''s Third Largest Diamond Producer

[mike04456]

Canada: World''s Third Largest Diamond Producer

 

[pricescope]

Yes

.

 

[Volred]

And how much of canada's diamonds are cut here?

I would like to get into the cutting business. That is a market just waiting to be conquered

 

[mike04456]

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On 1/14/2004 1:32:44 PM Volred wrote:





And how much of canada's diamonds are cut here?

I would like to get into the cutting business. That is a market just waiting to be conquered
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"During the first six months of 2003, Canada’s total trade in diamonds was worth just over $500 million, of which 81 percent were exports. Belgium and the United Kingdom are the major export destination markets for Canadian diamonds. In 2002 Belgium received 66 percent of Canada’s diamond exports and the United Kingdom received 28 percent."

I'm guessing the 28% = De Beers, the rest is going to Antwerp to be polished. So figure neighborhood of only 20% stays in Canada to be cut. Most of that is being cut at native cutting centers in the NWT. If you're up there, apply. Otherwise, you have your work, ahem, cut out for you. /idealbb/images/smilies/2.gif

 

[pricescope]

Volred,

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I would like to get into the cutting business. That is a market just waiting to be conquered
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Well, BHP, DeBeers and others including Canadian Government think the same

 

[niceice]

Of the companies we have spoken with in Canada who are selling the Diviak Mine production and cutting the diamonds in Canada and selling the diamonds with the Government issued certificate of authenticity, so far every one of them expects us to pay more for each diamond than we are actually selling diamonds of better quality for... In other words, their production quality is not up to par, i.e. a broad range of "ideal proportions" but only GIA Very Good or AGS-1 Excellent polish and symmetry... Sub standard goods by our standards... Yet we're supposed to pay more for them and therefore you are supposed to pay more for them simply because they were produced in Canada. Hog wash!

If Canada wants to be a player in the diamond industry, we suggest that they get their production costs under control and become competitive with the major cutting centers well established in Belgium, Israel, India and Hong Kong.

Several of our suppliers source diamonds through the Rio Tinto Mining Company which owns 60% of the Diviak Mine in Canada and we source "Canadian Diamonds" from them, but the diamonds are being cut in Israel... We're not going to pay more for substandard goods simply because they are being produced in Canada.

 

[Volred]

----------------On 1/14/2004 2:36:26 PM niceice wrote:



Of the companies we have spoken with in Canada who are selling the Diviak Mine production and cutting the diamonds in Canada and selling the diamonds with the Government issued certificate of authenticity, so far every one of them expects us to pay more for each diamond than we are actually selling diamonds of better quality for... In other words, their production quality is not up to par, i.e. a broad range of 'ideal proportions' but only GIA Very Good or AGS-1 Excellent polish and symmetry... Sub standard goods by our standards... Yet we're supposed to pay more for them and therefore you are supposed to pay more for them simply because they were produced in Canada. Hog wash!


If Canada wants to be a player in the diamond industry, we suggest that they get their production costs under control and become competitive with the major cutting centers well established in Belgium, Israel, India and Hong Kong.


Several of our suppliers source diamonds through the Rio Tinto Mining Company which owns 60% of the Diviak Mine in Canada and we source 'Canadian Diamonds' from them, but the diamonds are being cut in Israel... We're not going to pay more for substandard goods simply because they are being produced in Canada.

Good point