June 25, 2019
The birthplace of Canadian diamonds took centre stage as executives and investors gathered to participate in The Northern Miner’s Diamonds In Canada Symposium.
The annual one-day event was held June 20 – bringing together select influencers from mining, exploration, and diamond trade with representatives from Canadian jurisdictions looking to promote opportunities in their diamond sectors.
Miles Welsh, a leader on the GNWT’s diamond portfolio with the Department of Industry, Tourism and Investment, attended and presented.
Welsh delivered an update on promising exploration work across the territory and future development, but the presentation was truly centred on the department’s amended Diamond Policy Framework — a refreshed approach to encouraging the responsible use of local rough diamonds to create local economic opportunities.
This presentation highlighted how the policy provides diamond manufacturers the flexibility to export a calculated portion of rough diamonds based on their direct investment in the NWT.
“The vision is to maximize use of the asset by leveraging agreements with producers to support a diversified secondary industry,” explained Welsh, adding that new possibilities for tourism development, retail investment, jewellery design and manufacturing could be opened up by these efforts.
It was the latest example of the GNWT’s efforts to find opportunities to generate local economic development by finding syntheses between the tourism, arts, and diamonds sectors
These efforts complement others to support the government’s broad mandate to leverage the territory’s vast natural resources to support sustainable employment and prosperity.