The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Two of four firms placed in interim receivership; territorial government offers cash backing to one of companies
Canada's diamond industry has had its wings clipped, just as it was taking flight.
The Yellowknife operations of Sirius Diamonds and Arslanian Cutting Works NWT, holding a combined C$17.2 million in government loan guarantees, were forced into interim receivership in mid-June, triggering an emergency response from the Northwest Territories government.
The plants employed about 90 people.
The terri...
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