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Backgrounder
Overview In fact, more than 30 per cent of the world exploration budget for diamonds is targeted at Canada. Canada has produced a highly successful mining industry that is a leading
exporter of technology and expertise. In the case of diamond mining, the
industry is providing high-paying, high-tech jobs and other spinoff benefits.
For example, at Diavik, there are 15 northern businesses providing services
to that operation that are either new enterprises or have expanded substantially
because of their work at Diavik. A similar scenario is true for Ekati. At a combined capital cost of Cdn $2.1 billion, Ekati and Diavik together, will produce annually approximately 12 million carats valued at Cdn $1.3 billion. With the addition of the Snap Lake Project (approximately 1.7 million carats per year with an estimated value of Cdn $250 million) and the smaller Jericho project (approximately 375,000 carats per year with an estimated value of Cdn $25 million) it is forecast that by 2006 Canada will be the third largest diamond producer by value in the world following Botswana and Russia. Ekati and Diavik together employs a workforce of approximately 1,100 people of whom more than 60 per cent are Northerners and more than 30 per cent are Aboriginal. In addition, annual purchasing by the two mines will be in the order of Cdn $450 million range with the bulk being made in the North.
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Last Updated: 2004-04-23 | Important Notices |