loader image
Connect with us

DiamondBuzz

Canada Announces Tax Relief to Support Struggling Diamond Sector in Northwest Territories

Government steps in with targeted financial measures to stabilize region’s largest industry amid falling prices and market uncertainty.

Published

on

1,989 Views

The Canadian government has introduced a series of tax-relief measures aimed at supporting the diamond-mining sector in the Northwest Territories, as the industry faces mounting financial challenges. The initiative seeks to preserve economic stability in a region where diamond mining contributes approximately 20% of its GDP, with major operations including Diavik, Ekati, and Gahcho Kué.

According to the Government of the Northwest Territories, the sector is currently under pressure from low global diamond prices, inflation, supply-chain disruptions, and emerging tariff impacts. These conditions have led to significant losses for mining companies. Mountain Province, co-owner of Gahcho Kué with De Beers, reported a $56.4 million net loss in 2024, while Ekati’s owner Burgundy Diamonds lost $94.7 million and Diavik operator Rio Tinto reported a $127 million underlying loss.

To address these issues, the government will double the number of local diamond valuations in 2025 and 2026, covering associated costs to help producers move rough stones to market more efficiently. A temporary reduction in the minerals tax rate will result in $11.2 million in property tax savings for the three mines. Additionally, funds previously set aside for carbon tax contributions will be released to ease cash flow constraints.

The government will also collaborate with Indigenous governments and development corporations to offer further infrastructure and transitional support.

“This is about protecting our economy from sudden shock,” said Caroline Wawzonek, minister of finance for the Northwest Territories. “These targeted, short-term supports are not about corporate profits — they’re about maintaining stability for the workers, families, communities, and Indigenous governments that rely on [the diamond] sector. Our government’s support must be directed to ensuring that Northwest Territory-based labor and businesses are protected in this challenging operating environment.”

Continue Reading
Advertisement JewelBuzz Banner
Click to comment
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

DiamondBuzz

Raw Mango makes its debut at London Fashion Week Presented by De Beers Group featuring Forevermark Diamond Jewellery

Published

on

1,255 Views

The Fall Winter 2026 collection It’s Not About The Flower reinterprets the cultural symbolism of the garland on a global stage, presented by De Beers Group with Forevermark Diamond Jewellery celebrating heritage, provenance and contemporary craftsmanship.

At its inaugural show on an international stage, Raw Mango debuted their Fall Winter 2026 collection It’s Not About The Flower at London Fashion Week. Drawing inspiration from the ubiquitous garland—which is a humble, albeit important part of everyday life in South Asia—the collection blurs the line between decoration and that which is decorated. The focus with this collection shifts from the individual motif to the arrangement, from surface-level engagements to a deeper interrogation of value and beauty, from the flower to the garland.

Talking about the inspiration and emotional core behind the collection, designer and founder of Raw Mango Sanjay Garg says, “Flowers remain an important part of South-East Asia and South Asia. But we don’t really have a culture of giving one individual flower to someone, like, say, a rose on Valentine’s Day.” He continues, “As a culture, we are a country of garlands. Whether it’s a death, a birth, a wedding or a religious ritual, you see garlands, irrespective of the religion. It’s not about one individual flower; it’s about the plurality.”

With the show in London, the brand presents an indigenous idea of fashion that challenges convention and seeks to break away from stereotypes. “There is still a strong association between Indian fashion and a certain kind of aesthetic — heavy gold embroidery, and maximalist ensembles that overwhelm the eye and the body with ‘bling’,” says Sanjay.“Indian fashion is too often quantified – it’s not seen for its innate aesthetic value, but the number of hours it took a weaver to create a garment. It’s a surface-level engagement that sometimes drowns out the beauty of the weave itself.”

The garments and silhouettes offered interpretations of how a garland sits on the body. The flowers themselves were constructed in various non-traditional and silk-like fabrics, assembled or rolled by hand—each placed in delicate arrangements on lightly embroidered brocades, rib-knit cottons, quilted rayon and wool felt. Presented to an audience comprising influential voices across the worlds of fashion, business, entertainment and culture including artist Anoushka Shankar, former first lady of the UK Akshita Murthy, Film Director Gurinder Chadha, Actor Saim Ali, artist Cyrill Ibrahim, artist Lubna Chowdhary, Rahi Chadda, Founder of Openended Design – Suhair Khan, Art Collector and Philanthropist Aarti Lohia, Curator Tarini Malik, Creative Director Nikhil Mansata and Creative & Cultural Strategist Arooj Aftab, It’s Not About The Flower asked to be appreciated on its own terms.

Speaking to the significance of Raw Mango showing at London Fashion Week, Sanjay Garg responds, “Presenting here is as good as presenting in Kanpur for me.  At the end of the day, it is the work being presented that matters. And that doesn’t change according to who is viewing it, or where. I’m less interested in defining my audience and more interested in further exploring and articulating my design language that can cater to different audiences that transcends borders and seasons.”

This laser-sharp focus on the work, rather than the accoutrements and requirements of fashion calendars, is what has defined Raw Mango’s approach to textile and culture over the past eighteen years. The brand builds on century-old skills to shape a new aesthetic vocabulary that is both contemporary and deeply rooted in local histories.

For its London Fashion Week presentation of It’s Not About The Flower, Raw Mango was presented by De Beers Group, with Forevermark Diamond Jewellery as the jewellery partner. United by a shared respect for provenance and craftsmanship, the collaboration underscores adornment as an expression of individuality, culture, and personal style.

Commenting on the partnership, Shweta Harit, Global Senior Vice President at De Beers Group and CEO of Forevermark, said: “As the jewellery partner, Forevermark Diamond Jewellery came together with Raw Mango through a shared commitment to authenticity, craftsmanship, and personal expression. Natural diamonds – rare creations of the earth, each inherently unique – reflected the same sense of individuality expressed through Raw Mango’s design language.

Presented by De Beers Group, the collaboration came together as a meeting of heritage, provenance, and contemporary creativity, where adornment felt like a true extension of identity.”

In a season dominated by conversations around conscious luxury and material honesty, the alignment was clear. Heritage is not a trend. Craft is not a spectacle. And like the enduring belief that a diamond is forever, true value lies in what time cannot erode.

 

Continue Reading

Trending

JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.

We would like to hear from you...

GET WHATSAPP NEWS ALERTS

0
Would love your thoughts, please comment.x
()
x