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Diamond Bourse of Canada to open for business

posted Jan 25, 2010, 6:58 PM by Alex Barcados   [ updated Jan 28, 2010, 8:20 PM ]
Diamond Bourse of Canada to open for business
Canadian diamonds, such as these from Ontario's Victor Mine, will soon be traded through the Diamond Bourse of Canada (DBC).
Photo courtesy De Beers Canada 

The Great White North now joins the ranks of the global diamond market with the opening of the Diamond Bourse of Canada (DBC).

After several years of discussion and planning, the 29th diamond bourse in the world officially swings opens its doors on Jan. 27, creating a Canadian 'cradle to finger' diamond pipeline.

"With the formal opening of the Diamond Bourse of Canada, the diamond industry now has all the elements required to continue expanding on what has been a great success story," said DBC board chair Bhushan Vora. "All the segments of the industry were present from mine to market except for the bourse…The growing consumer concern over the ethical source of diamonds gives the trade a great advantage in building this bourse. It builds a home market for Canadian diamonds, from the exploration stage to the end consumer, with a great deal of confidence."

Industry players, guests, and media will be given a tour of the facility, which is located at 20 Richmond St., part of the One Queen Street East complex in the heart of Toronto's diamond district. Some of the amenities include:
• tenders;
• a full trading floor, with all the necessary instrumentation;
• a customs bonded facility with safety deposit boxes;
• private viewing rooms;
• a lab bay;
• advanced security; and
• a lounge/social club room.

The DBC will also present seminars on timely topics, such as loss prevention.

"I believe the Diamond Bourse of Canada will carve out the future growth of this industry with its vision and voice," Vora added. "The bourse will keep the industry abreast of the changing market conditions and will be in the forefront of new development and growth within its borders."

Canada is the third-largest producer of gem-quality stones, with a total value of $2.4 billion in 2008. Botswana and Russia are number one and two.

For more information, e-mail or call (416) 663-3262.