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| | Northwest
Territory Diamond Mining Grows; Local People Looking for “Fair Share” -
Oct.2003
We recently heard an interesting speech by Canada’s Northwest Territories
Premier Stephen Kakfwi, who explained that, with the growth of mining,
the partnership of Tiffany in marketing Canadian diamonds, and the opening of a
third mine—by the DTC—in 2006, Canada’s role in the international diamond
industry will soon rival Russia—the world’s 2nd largest producer of rough
diamonds by value (behind Botswana).
This year, the Northwest Territories will produce $720 million in
diamonds, worth $5.3 billion in diamond jewelry. The area—frequently promoted
because of their conflict-free status—is also working to develop extensive
cutting and polishing support facilities, he said.
Amid all this development, Kakfwi is asking the Canadian government to
recognize the Territories’ 42,000 residents. This year, for example, of $16.85
billion in government revenues from diamond and natural gas resources, the
Northwest Territories will receive only $22 million, he said. v |
