Antwerp diamond industry partner for first diamond mine in Quebec

Kris Peeters, minister president of Flanders, and Ari Epstein, CEO of AWDC, discussed the possibilities regarding the first diamond mine in Quebec, Canada, with Stornoway, the company in charge of this project. Stornoway prefers to trade the diamonds through the Antwerp market. “ We hope to obtain solid trade relationships and a positive outcome for both parties”, said Peeters.

Stornoway, a listed company of which the Government of Quebec is the main shareholder, obtained all the necessary permits to start with project “Renard”. First production is scheduled for July 2015. The mine is located 850 km North of Quebec and is estimated to provide 2 million carats on average yearly, over the next decade. Because the expected quality of the diamonds is very high, the estimated yearly revenue would approach approximately 328 million USD.

“The exploration of the first diamond mine is an important step forward for Quebec”, said Epstein. The highest level of professionalism is vital for the outcome of this project. Antwerp can bow on 550 years of diamond heritage, a wealth of expertise and no less than 1800 registered diamond companies;”, said Epstein, who emphasized that Antwerp can ensure the best possible return for the Québec diamonds.

80 percent of all rough diamonds worldwide and 50 percent of all polished diamonds worldwide were traded through Antwerp. The turnover of the Antwerp diamond industry equaled 51,9 billion dollar in 2012.