Yellowknife (July 14/04) - Yellowknife now has four cutting and polishing plants that contribute close to $13 million annually in payroll to Yellowknife residents.

The factories include: Sirius Diamonds NWT Ltd., Deton' Cho Diamonds, Arslanian Cutting Works (NWT) Ltd. and Laurelton Diamonds.

Conveyor belts inside Diavik's processing plant. Diavik opened in July 2003. After the Snap Lake Diamond Mine opens, close to $180 million in annual payroll will be deposited into Northerners' pockets. - NNSL file photo

BHP Billiton has agreed to allocate 7,500 carats for Sirius, Deton' Cho and Arslanian, states NWT Diamonds, a report put out by the NWT and Nunavut Chamber of Mines.

Laurelton buys its diamonds locally through BHP, Aber Diamond Corporation and Rio Tinto Diamonds.

In 1999, Diavik Diamond Mines signed an agreement with the territorial government to supply diamonds to the local cutting and polishing industry.

Although not made public, the Diavik deal with Yellowknife's cutting and polishing houses is similar to the BHP agreement, states the report.

In 2002, Yellowknife polishers purchased just 2.8 per cent of available rough diamonds, followed by 3.8 per cent in 2003.

Ellis Consulting Services estimates the value of shipments from the NWT cutting and polishing industry rose from $3.2 million in 1999 to $27 million in 2002.

The cutting and polishing industry contributed $6.7 million to GDP in the NWT in 2002. This was comprised of $5.4 million in direct and another $1.3 million in indirect impacts.

Sirius and Canadian Dene Diamonds employ close to 50 people, doling out nearly $5 million in pay per year.

Arslanian Cutting Works and Laurelton Diamonds employ close to 125 polishers.

- with files from Andrew Raven