Diamonds are once more cut again in Yellowknife

The Yellowknife Crown of Light diamond cutting facility. (Photo by Crown of Light)

Earlier this month, a new diamond polishing factory started operating in Yellowknife, in Canada's Northwest Territories (NWT). The plant, called Yellowknife Crown of Light, which is owned by Almod Diamond, reportedly received its first shipment of rough diamonds from De Beers at its facility near Yellowknife's airport.

According to a report filed by the website of the Canadian newspaper CBC, a Almod company spokesperson confirmed "that the Yellowknife facility is staffed and operational, with a grand opening expected in 2020."

The plant's opening is a major achievement, since a decade ago the last two remaining factoirs, operated by subsidiary of Tiffany's and by Arslanian, both closed and laid off more than 90 employees.

According to the report files by CBC, the Yellowknife Crown of Light facility is the first factory to become operational under the territorial government's amended Diamond Policy Framework, "and is the only diamond manufacturer currently approved for operation by the N.W.T. government, according to a spokesperson from the Department of Industry, Tourism and Investment."

Almod Diamonds bought Tiffany's closed diamond cutting and polishing plant in as early as 2016, expecting to make it operational with half a year but , according to Almod, the

opening of the polishing factory was delayed due to setbacks obtaining work visas and permits for its employees. Reportedly, Almod is committed to training a local workforce, and to create employment opportunities at the diamond polishing plant.