Diarough to Open $20 Million Processing Plant in Quebec

Diamond company Diarough is to open in January a $20 million processing plant in Matane, Quebec, aimed at increasing sales to the North American market and employ 50 people.

Sonu Parikh, Diarough's president, said financial incentives offered by the Quebec provincial government had persuaded him to set up the plant.

Attracting Diarough, which also has treatment facilities in India, Thailand, Israel and Botswana, is part of Quebec’s strategy of securing a larger role in the global diamond industry as well as providing jobs in an economically depressed region.

Up to now, Quebec has not enjoyed Canada’s booming diamond rise, but some exploration is being conducted in the Quebec region.

Noting that the value of the global diamond mining industry is $7 billion whereas the polishing and jewelry sectors worldwide are worth $58 million, Quebec Prime Minister Jean Charest hopes the opening of diamond processing plants will raise the region’s diamond profile.