Canada's Arctic Diamond Sector Losing Sparkle?

Finance and Trade
27/10/2015 08:31

Dropping diamond prices caused by lower growth in Chinese jewelry demand is reducing the appeal of Canada's Arctic diamond industry, with falling exploration budgets hitting the region’s long-term prospects. Exploration spending in Canada's diamond-rich Northwest Territories (NWT), the world's third-biggest producer, is forecast to drop 54 percent this year, according to a Canadian government estimate.