CANADA ROCKS: Like so many luxury products right now, diamonds — natural and lab-grown — are having a hard time. The prices of both are down in the double-digits while the fate of the best-known diamond brand, De Beers, remains uncertain with owners Anglo American pondering a sale or spin-off.
The grim environment has done little to deter the Canadians from touting their diamond industry and close work with the Indigenous communities where the mines are based.
On March 19, representatives from Canada’s natural diamond industry gathered at Canada House in London to talk about their work and discuss the details of a new paper by the Natural Diamond Council about Canada, the third-largest diamond producing country in the world.
Boodles, the British jeweler that works with Canadian diamonds, took part in the event as did the actress Lily James, a global ambassador for the Natural Diamond Council, and Kateri Rose Lynn, a councillor for the community of Dettah, part of the Yellowknives Dene First Nation, in Canada’s Northwest Territories.
A ring from Boodles. The center stone is from the Diavik mine in Canada’s Northwest Territories.
The new paper by the Natural Diamond Council said Canada’s diamonds date back 3.5 billion years, making them the oldest in the world. Despite the diamonds’ age, the first mine only opened there in 1998, so they are still a relatively new resource in the industry.
The Natural Diamond Council argues that because the Canadians started so late, they were able to put positive impact practices in place from the get-go.
As of 2024 all of Canada’s diamonds were recovered from the arctic region of the Northwest Territories or NWT. Called Denendeh, or “Land of the People11” in the Dene languages, the NWT is home to 11 official languages, with more than half of the population identifying as Indigenous.
According to the report, the diamond mines work closely with governments, local communities and Indigenous peoples to optimize their socioeconomic contributions and environmental stewardship, and ensure that the operations leave enduring benefits long after mines have closed.
The diamond mines in the NWT have contributed a total of 27.7 billion Canadian dollars, or around $21.8 billion, to the Canadian economy since 1996, of which 8.63 billion Canadian dollars, or $6.8 billion, went to Indigenous-owned local companies.
Lily James checking out the rocks at the Canadian diamond event at Canada House in London.
PAUL MARTYNIUK
Since the beginning of diamond recovery in the ‘90s, 70 percent of procurement spend has been allocated to NWT-based businesses, according to the report.
“Canadian diamonds are a true testament to ethical luxury. Their legacy is built on transparency and unparalleled craftsmanship,” said David Kellie, chief executive officer of the Natural Diamond Council.
Boodles, which had some of its jewelry on show at Canada House during the event, has hopped aboard the Canadian diamond train, partnering with Rio Tinto’s Diavik mine, one of the world’s top sources of ethically sourced, quality diamonds.
According to Boodles, mine operators work in extreme conditions where temperatures can drop as low as minus 40 degrees Fahrenheit. Diavik uses renewable energy, and operates one of the largest hybrid wind-diesel power facilities at a remote mine site. It also works to preserve local wildlife and support local community organizations.
Other brands with diamond jewelry on show included Dries Criel, Almod Diamonds, Misfit Diamonds, Gemporia, HRA Group, and Diacore. The exhibits aimed to highlight the diamonds’ journey from ethically sourced mines to jewelry pieces.
