Northwest Territories OKs Diamonds de Canada as Approved NWT Manufacturer
August 26, 21
(IDEX Online) - The Government of the Northwest Territories (GNWT) has approved Diamonds de Canada Ltd. as an Approved NWT Diamond Manufacturer.
The agreement ensures that Diamonds de Canada has access to NWT-mined rough diamonds, and that its manufacturing activities, which include cutting and polishing, take place in the Northwest Territories, the GNWT said in a statement. The company has entered into a monitoring agreement with the GNWT as required under the GNWT's Diamond Policy Framework.
Diamonds de Canada is a new company led by diamond industry veterans Benjamin King and Michael Indelicato.
"The company's innovative business model includes the use of an automated cutting and shaping system that will minimize the company's footprint while allowing it to be on par with some of the world's most advanced manufacturers," according to the statement.
Diamonds de Canada is preparing for a formal opening this fall.
It aims to hire and train NWT residents to both operate and maintain their technology while also providing instruction and training on traditional polishing methods, while NWT-based artists will provide artwork/packaging.
Benjamin King, interim CEO of the firm, said: "Diamonds de Canada is appreciative of the GNWT and their revised diamond policy framework that has paved the way for us to tell the story of the environmental sustainability and social responsibility that stands behind the legacy of Canada's Diamonds."
King is the owner of King Brokerage Limited, a retail industry consultancy, while,
Indelicato is the founder and CEO of RDI Diamonds Inc. (RDI), a wholesale diamond company.
Diamonds de Canada joins Almod Diamonds as one of two Approved NWT Diamond Manufacturers in the territory.