SUDBURY – “It is an honour to have the opportunity to purchase the Victor mine diamond allocation for the second time through 2015. The past three years have laid the groundwork to truly develop a vibrant diamond industry in Ontario and we are excited to continue our work to make this an ever greater success in partnership with Ontario and De Beers Canada. The Ontario Government has fostered an environment in which secondary industry can thrive and that we can proudly say that diamonds are mined, cut and polished in Ontario,” said Uri Ariel, President, Crossworks Manufacturing Ltd.
The latest allocation of rough diamonds from the De Beers Canada Victor Mine to Crossworks Manufacturing Limited will retain jobs and continue promoting the development of value-added industries.
Crossworks Manufacturing Limited has been offered the opportunity by the Province of Ontario and the Diamond Trading Company to purchase an estimated annual $35-million worth of rough stones that will be cut and polished at the company’s facility in Sudbury. Subject to specific agreements regarding diamond supply, this will mean that the Company may increase employment at the facility from 29 employees currently to about 50 people over the next three years. New jobs will be in special skilled diamond cutting trades, as well as administrative and maintenance positions.
Under an agreement with the Ontario government, De Beers Canada is making 10 per cent of its annual rough diamond production from the mine, by value, available for cutting and polishing activities in Ontario.
“We are thrilled that Crossworks Manufacturing has been offered the 2012-2015 Victor mine diamond allocation for its diamond cutting and polishing Sudbury facility. This access agreement to a rough diamond supply from its Ontario mine represents part of the Ontario government commitment to creating opportunity for value-added employment opportunities that promote trading, jewellery manufacturing, marketing, tourism and other activities,” stated Rick Bartolucci, Minister of Northern Development and Mines.
QUICK FACTS
- The allocation of diamonds is submitted for tender by the Diamond Trading Company to qualified companies every three years;
- Canada ranks among the top three diamond producers in the world in terms of value;
- The Diamond Trading Company is the rough diamond sales and distribution arm of the De Beers Family of Companies;
- Ontario joined other stakeholders in establishing Canada’s first diamond bourse in Toronto;
- Two years ago, a rare pink 2.75 carat diamond discovered at the Victor Mine became the largest pink diamond ever cut and polished in Canada.