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Released: 23 May, 2003

Diamond Industry Roundtable a Success

EDMONTON - The promise of Canada's newest and most exciting resource industry - the diamond industry - was the focus of a National Roundtable held in Edmonton on May 20 and 21. Led by Herb Dhaliwal, Minister of Natural Resources Canada (NRCan), the Roundtable was the first time that key stakeholders from across Canada gathered to discuss ways to bring the emerging industry to the global forefront by 2015. Robert D. Nault, Minister of Indian Affairs and Northern Development, Ethel Blondin-Andrew, Secretary of State, Children and Youth, and Jim L. Antoine, Minister of Resources, Wildlife and Economic Development for the Northwest Territories, also addressed and contributed to the Roundtable.

"Diamonds are our newest and our most exciting offering to the world," said Minister Dhaliwal. "The decisions we make now and in the next few years will determine what the industry will be like in 2015. I am confident that we will look back to this Roundtable as being pivotal in creating a Canadian diamond industry that is known throughout the world for its quality, its competitiveness, its productivity - providing maximum economic and social benefits to Canadians."

"Resource development in the North is the key to the government strategy," said Minister Nault. "Diamonds are an important part of that approach, which includes developing mining, oil and gas, as well as pipeline opportunities."

Participants at the Roundtable included representatives of the diamond industry, provincial and federal governments, Aboriginal groups, academia and non-government organizations. They discussed the growing needs, challenges and opportunities of Canada's diamond industry, including security, valuation, labour force development, marketing, opportunities for Aboriginal people and financing.

In his keynote address, Minister Dhaliwal highlighted the potential of the emerging diamond industry for jobs and economic growth across Canada, particularly for Aboriginal people and northern and rural areas. He emphasized the need for a focussed approach that would ensure a competitive, sustainable industry.

"I believe that we have what it takes for global success," he said. "We have world-class geoscience and geomatics; corporate social and environmental responsibility; technological sophistication of the first order; superior business acumen; and determination. And, of course, world-class diamond deposits. We can become a world-leading industry by developing a vision that integrates social, economic and environmental goals."

Diamonds have captured the mining industry's imagination, and recent discoveries have renewed interest in Canada as a place to explore for diamonds. Prospectors have found diamond deposits in most areas of Canada, from the Northwest Territories to Quebec. There are two working mines, Ekati and Diavik in the Northwest Territories, and more to come on stream, such as Snap Lake in the Northwest Territories, Jericho in Nunavut and Victor in northern Ontario. There is also the beginning of a promising cutting and polishing industry throughout Canada.

Recommendations focussed on the following:

• increasing cooperation among governments and industry to develop a skilled labour force, increase Aboriginal business capacity, and ensure the coordination, harmonization and financing of activities to build sustainable communities;
• encouraging industry growth through changes to the existing tax structure;
• the importance of developing systems to maintain the credibility/integrity of the industry;
• assessing infrastructure needs in remote northern areas; and
• taking advantage of opportunities to market Canadian diamonds and industry expertise.

These recommendations will comprise part of a report to be presented to the annual meeting of the federal, provincial and territorial mines ministers, to be held in Halifax on September 29.

By promoting the responsible use of our natural resources, NRCan builds on the Government of Canada's commitment to ensuring the quality of life in our communities, a healthy environment and continued economic prosperity - for the Canada we want, for ourselves and for future generations.

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