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Ontario Renews Diamond Valuation Contract With DICAN

Mar 19, 2013 12:15 PM   By Jeff Miller
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RAPAPORT... Ontario's Ministry of Northern Development and Mines (MNDM) in Canada renewed a contract with Diamonds International Canada (DICAN) Limited to continue serving as the diamond royalty valuator for the next three years. The new contract is similar to one signed in 2008, and was awarded to DICAN following an international bidding process.

DICAN is responsible for ascertaining the gross value of diamonds produced by the De Beers Victor mine near Attawapiskat on James Bay and it also conducts a range of other diamond-auditing and consulting services on behalf of MNDM for royalty assessment purposes.

Sandra Hartwick of DICAN said, "We are delighted to have won this new international tender against tough competition and are looking forward to continue the technical sorting and valuation work with MNDM. The Victor mine produces many high-quality diamonds and it is a privilege ensuring that they are correctly valued before they leave Ontario."

DICAN is based in Yellowknife and is 51 percent owned by Aboriginal Diamonds Group (ADG) and 49 percent owned by WWW International Diamond Consultants Limited. DICAN is also contracted by the federal government of Canada to value the diamond production from the Ekati, Diavik and Snap Lake mines in the Northwest Territories.

Tags: diamond valuation, dican, Jeff Miller, Ontario
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