The Diamond Bourse of Canada hosted various prominent members of the Canadian mining industry at its Toronto office for a Mining Meet & Greet on Tuesday March 3, 2015.
During the course of the event, Diamond Bourse of Canada President David Gavin addressed the attendees with the following statement, “Deputy Minister Peter Vician, Assistant Deputy Minister Deborah Archibald, distinguished guests, fellow members of the board, ladies and gentlemen; I would like to take this opportunity to welcome you all to the Diamond Bourse of Canada. The Bourse is a diamond and gemstone trading facility and we are an industry association that provides a variety of unique industry specific services. For example, we have a bonded warehouse facility, a loose diamond trading floor, a Sarine machine, as well as a fully equipped lab with a Diamond Sure machine kindly donated to us by De Beers, safety deposit boxes and clerical services to name a few.”
Mr. Gavin went on to say that the Bourse came about with the help of the Canadian diamond industry stakeholders, including the Ontario provincial government as well as the Government of the Northwest Territories.
“We have been in existence for six years now,” adds Mr. Gavin. “ We have a membership of 80+ members, made up of both local and international diamantaires. We are a relatively young Bourse as is our diamond mining counterparts here in Canada but we seem to be making ourselves heard. We recently accepted our induction into the World Federation of Diamond Bourses which has raised our profile and has increased our relevance on the world stage.”
Reserving just 10% of Stornoway’s production volume would create 100 jobs for cutters and polishers alone, said Melisende president Harry Ohanessian. He said Melisende is willing to teach Quebecers how to cut diamonds to create a local cutting base.
“We’re all waiting for this,” Mr. Ohanessian said in an interview Tuesday, adding the key element of any agreement is asking Stornoway to provide bigger and higher-grade diamonds, not just lower-quality smaller stones. He argues the NWT’s processing effort was crippled by the lower-calibre of diamonds being provided to the cutters by the mines, which wasn’t good enough to make up for higher operating costs in Yellowknife.
Negotiations between the Quebec government and Stornoway continue and “all options” are on the table including mandating a dedicated volume for local processors, Quebec Natural Resources Minister Martine Ouellet told reporters at Stornoway’s head office Tuesday. “Our desire is to create jobs in Quebec. So now we’re at the stage of examining which stage of processing has the most opportunity for job creation.”