Canadian diamonds are not new to the market, but Manitoba has now entered the diamond spotlight. A new discovery of diamonds southeast of Thompson has put the Canadian province on the mineral map.
Prospectors say this could be a big deal for the development of future mining projects in the province. A micro-diamond was first discovered in this area in bedrock (possibly Kimberlite) in 2008.
This current discovery was made by the Manitoba Geological Survey, partnered with Lynx Consortium. Mark Fedikow, consortium member and consultant, believes this is a big opportunity for the area. He speaks to the potential for First Nations communities to benefit.
Moving forward will require involvement with the First Nations people of the area. Excluding First Nations from important discussions has previously resulted in criticism and delays. Co-ventures that include indigenous partners will benefit future mining projects.
The government remains wary, stressing the point that this diamond discovery is still preliminary. So far only very small diamonds have been found, although prospectors will continue to investigate the potential for mineral abundance.
Currently, Manitoba is home to a range of other mining operations, all of which contribute roughly $1.5 billion to their economy. Further drilling to recover additional diamonds is underway to increase this number. It is important to remember that although a diamond may be discovered and mined in Canada, it could very well be cut somewhere out of country. The cost of Canadian labour and manufacturing make overseas diamond cutters an appealing option.
Canada-wide, many other provinces and territories have active diamond mines, including Quebec, Ontario, and Saskatchewan. You may be surprised to learn that Canada is the 3 rd largest diamond producer in the world. The Northwest Territory alone produces 8 million carats annually.
Canadian diamond engagement rings are typically conflict-free and ethically-sourced.
