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Gold/Mining/Energy : Canadian Diamond Play Cafi -- Ignore unavailable to you. Want to Upgrade?

To: WillP who wrote (456)	12/23/2002 9:27:29 PM
From: Rocket Red	Respond to of 16206

There are only a few candidates right now and thats still all maybe!2003 will tell us once again

To: WillP who wrote (456)	1/10/2003 8:07:49 AM
From: Famularo	Respond to of 16206

The Associated Press Friday, January 10, 2003 ANTWERP, Belgium -- Canada aims to become one of the world's largest diamond producers, Trade Minister Pierre Pettigrew said after meeting yesterday with diamond officials in the world's top gem-trading city. Known for its export of natural resources, Canada doesn't have a reputation for diamond mining, but finds in the Northwest Territories over the past decade are turning heads. "We are optimistic . . . to become one of the greatest players," Pettigrew said after meeting with Peter Meeus, managing director of Antwerp's High Diamond Council, which handles 80 per cent of world trade in rough diamonds and half of trade in cut gems. The city's diamond cutters, eager to get a cut of the action, will handle more than 95 per cent of all Canada's rough and polished gems in deals signed over the past few years. Pettigrew said he's optimistic Canada could soon find itself rivalling Botswana, the world's top producer, and Russia. So far, the numbers point to a rise in Canada's fifth-place rank in production, just behind Angola and South Africa, as a second, larger diamond mine at Diavik, N.W.T., starts shipments to Antwerp in March. "There is a phenomenal potential for Canadian diamonds," Meeus said. "We live in a new diamond world -- there are new producers out there," he said. If mining continues on schedule, Meeus said, Canada will double its world market share of rough diamonds to 12 per cent by 2006.