NNSL (Mar 18/98) - Ignorance of what NWT diamond play could mean for Northerners is widespread, according to a Winnipeg dealer familiar with the industry.

Filip Zimerman of Zimmy Diamonds Inc. was one of 500 diamond players, politicians and invited guests in Toronto last week in attendance at the Prospectors and Developers Association of Canada conference.

While others are raving about the meeting, Zimerman told Yellowknifer he is upset with the information he received about how the diamond industry is playing out in the NWT.

"The biggest impression that we got out of this meeting is that nobody really locally realizes the full potential of what is happening in the North," said Zimerman, from his Manitoba office on Wednesday.

To try and help the North get a piece of the secondary manufacturing of diamonds to be mined in the NWT over the next few decades, Zimmy Diamonds unveiled a plan at the conference.

"There's a proposal on the table where we stated that we'll be 100 per cent accountable to the NWT government or the people involved," he said. "I would love to assist the locals to set up an operation up North," said Zimerman.

"The biggest problem will be the source of the goods. I will not invest a million dollars in a facility if I'm not sure the rough goods or the source of goods that come to me is a fair price and on a continuous ongoing basis."

"I will not undertake any project that is doomed to fail -- that has to be very clear. But in the diamond field I feel comfortable, very, very comfortable."

Zimerman claims to have access to 100,000 diamond cutters in India if necessary or 20,000 cutters in Israel. Plus, if need be, he can find special instructors to train cutters in the North and obtain the necessary diamond cutting tools from factories in New York or Belgium.

But before that happens, he wants Northerners to understand just how much money they would make as a partner in this project.

"Failing proper structure -- I hate to say it -- but the locals will get shafted. And shafted has many meanings. They could be left with meaningless jobs which might sound meaningful at first," said Zimerman.

"It's up to you people. Definitely, destiny is in your hands. The way you approach it is very crucial because you will be setting a precedent for the future of the diamond industry."