Deepak International Ltd (DIL) has been awarded the status of Approved NWT Diamond Manufacturer (ANDM) by the Government of the Northwest Territories (GNWT) of Canada.
This enables DIL to purchase some of the 10 percent of NWT rough diamond production offered by NWT diamond producers to NWT cutting and polishing operations.
GNWT and DIL have also signed a certification agreement and an exclusive polar bear trademark licensing agreement for the iconic Polar Bear Diamond™.
DIL is authorized by the GNWT to market its NWT-manufactured diamonds as a Government Certified Canadian Diamond™ and Polar Bear Diamond ™ internationally, including the use of the polar bear design trademark under the terms of the agreement.
The GNWT guarantees that a Government Certified Canadian Diamond™ is totally Canadian in origin and was mined, cut, and polished in Canada’s Northwest Territories, and that Polar Bear Diamonds meet the most exacting quality standards under a strict monitoring system.
DIL has also signed a required monitoring agreement with the GNWT, ensuring that all NWT-mined diamonds purchased by DIL under supply agreements with NWT diamond producers are fully manufactured in the NWT.
DIL is currently finalizing the purchase of two GNWT-owned buildings in Yellowknife and the lease of related airport lands as the site for its new NWT diamond manufacturing operations.
NWT Minister David Ramsay signed the agreement with Deepak H. Kumar, President and CEO of DIL.
Ramsay says, “We have been working hard to re-establish a vibrant secondary diamond industry in the Northwest Territories and this signals a rebirth of that industry. We are renowned globally as a reliable source of quality rough diamonds and expanding our diamond manufacturing sector will bring additional jobs and economic benefits to the NWT.”