MERN- Québec's diamond strategy








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Québec's Diamond Strategy



 

In 2004, Québec instituted its Strategy for the Accelerated Development of Québec’s Diamond Potential to help investors maximize the economic benefits expected from each of the stages in diamond production.


The Strategy will also enable Québec to establish strong business ties between producers, cutters and jewelers, and to actively promote Canadian diamonds.

The Strategy consists of the following measures that focus on four themes:

exploration

  1. increase the province’s geoscientific knowledge base
  2. promote Québec’s diamond potential
  3. increase fiscal support for exploration
  4. assist the construction of a pilot plant

extraction

  1. establish an allowance for major investments
  2. rationalize activities and resources related to the inspection of Québec’s diamond-producing establishments

cutting and polishing

  1. consolidate all activities related to cutting and polishing
  2. secure a greater supply of rough Canadian diamonds
  3. develop a certification system for diamonds mined, cut and polished in Canada
  4. establish a sorting centre for rough diamonds

jewelry trade

  1. establish solid business ties between producers, cutters and jewelers
  2. promote Canadian diamonds and the Québec diamond industry

Medium- and long-term profitability for both government and industry is one of the objectives underlying Québec’s action on this issue. By presenting its own diamond strategy, while continuing to actively participate in the creation of a pan-Canadian strategy, Québec exercises a leading role within the Canadian diamond industry.



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