After several years of closure, Almod Diamonds plans to reopen its Yellowknife diamond manufacturing plant. This move is expected to be complete within three to six months.
Almod, a New York-based company, brands itself as the largest “vertically integrated” company in the industry. The business cuts and polishes diamonds, designs and manufactures jewellery and sells its pieces through Diamonds International, its retail sector.
The company has also been given N.W.T. diamond manufacturer status, meaning that it has access to rough diamonds mined in the territory. However, this agreement does not involve the use of the Polar Bear diamond trademark.
According to Almod, it will take three months at minimum to evaluate the condition of the factory, attain new equipment, and accumulate staff prior to reopening.
Gad notes that most of the new factory’s staff will initially come from Almod’s other operations. Additionally, he says that the company hopes to benefit from the area’s tourists through guided factory visits and jewellery sales.
