Abstract
In An Inquiry into the Nature and Causes of the Wealth of Nations (1776), Adam Smith said: “A diamond, (…), has scared any value in use; but a very great quantity of other goods may frequently be had in exchange for it”. Thus, a diamond is not only a “girl's best friend” but has also a huge value in terms of exchanges. The first diamond discovery in Canada was made in 1991. Thus, the Canadian diamond industry is young compared to other diamond industries worldwide. The first production began in 1998 and in 2003 the Diavik mine opened. The development of the diamond industry in Canada has involved many actors: governments, populations, and retailers. In 2000 the Government of the North West Territories was the first to introduce a certification program and since 2002 it has launched a marketing campaign to promote the diamonds from its mines.
