The Northwest Territories (N.W.T.) of Canada recently hosted the 12th International Kimberlite Conference in Yellowknife, where about 300 delegates discussed the future of diamonds and other critical minerals in the territory.
This is the second time the conference has been held in Canada. The first edition of the event in the country took part in 2003. Geoscientists from the academic and diamond industries around the world shared their knowledge about the diamond industry.
CBC news cites Karen Costello, the executive director of the N.W.T. and Nunavut Chamber of Mines, who said Canada's diamond production is still "in our infancy."
"The diamond industry has been active [in Canada] only since the 1990s. In Africa and South America, it has been around well for over 100 years ... so there are still discoveries to be made."
According to Costello, there have been some challenges in the N.W.T geological exploration over the last few years, one of the reasons being the lack of a mineral exploration tax credit over the last 15 years. Another issue is the recent volatility in diamond prices, however, it hasn’t had a negative effect the diamond exploration in the territory.
Companies are also assessing the prospects of critical minerals exploration in the region, but the investment lags behind that of diamond projects.
"Critical mineral exploration, while it is quite exciting ... it still is a long way from the level of investment that the diamond mines and what had previously been done for exploration overall," Costello said.
Theodor Lisovoy, Editor in Chief, Rough&Polished
