Tuesday, February 20, 2007

De Beers agrees to sell diamonds to Canada cutters

De Beers Canada will have to offer 10 percent of the diamonds it mines from its Snap Lake operation to cutters and polishers in the Northwest Territories, according to an agreement with the territory's government released on Tuesday.

The deal, which has been in the works for several years and is in line with the northern Canadian region's policy of supporting its secondary diamond industry, takes effect in 2008.

Read more at Reuters South Africa

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