Canada is Becoming one of the World's Largest and Most Important Diamond Producers

The rich diamond deposits in Canada's Northwest Territories are attracting the attention of global investors. Canadian Prime Minister Harper personally attended the opening ceremony of the first diamond mine in Nunavut Province today and declared that Canada is becoming one of the largest and most important diamond producers in the world.

The Jericho Diamond Mine, which opened today, is located 400 kilometers north of Yellowknife, the provincial capital. The diamonds currently proven to be worth more than 100 million US dollars have been purchased and developed by the famous New York jewelry giant Tiffany Jewelry Company. Since its trial operation in January this year, it has produced about 2,000 carats of diamonds every day.

Public opinion believes that the development of the first diamond mine resources in Nunavut Province is of great significance and will soon attract the attention of the international community.

The Canadian diamond industry is second only to Botswana and Russia, and is currently the third largest diamond producer in the world. It is reported that the Jericho Diamond Mine is the third diamond mine in Canada and is expected to produce more than 375,000 carats of diamonds in the next seven to nine years. Two other large-scale diamond mines are also on the border of Nunavut, which produced a combined $1.7 billion worth of diamonds last year.

Some experts predict that within the next two decades, Canada is expected to become the world's largest diamond producer. Currently, at least three new diamond mines are planned for development, located in Snap Lake and Gonkaku in the Northwest Territories and Victor, Ontario.