Northwest Territories Says Diamond Industry Ready to Expand

The Globe and Mail reported that David Ramsey, the Northwest Territories’ minister of industry, tourism and investment, believes the region’s diamond industry is “set for its next stage of expansion.”

The Northwest Territories currently supplies 15 percent of the world’s diamonds.

As quoted in the market news:

‘With some renewed focus on geoscience in that area, some experts believe we could look at four to five significant discoveries of diamonds in the area,’ Mr. Ramsay in a phone interview between meetings at the gathering of provincial premiers in Sudbury, Ont.

There is the potential for extensions of the Ekati and Diavik mines as well as for a recently assessed region of the territory’s south that could contain diamonds, he said.

Click here to read the full report from The Globe and Mail.