Dominion Corp to Hold Tenders in Israel

Visit by top executives is the latest in series of developments aimed at bringing more business opportunities to Israel Diamond Exchange.

Dominion Diamonds Corp is to hold tenders of large rough diamonds in Israel from 2014 following talks between senior officials from the firm with Israel Diamond Exchange (IDE) President Yair Sahar and other diamond industry representatives this week.

Dominion Diamonds Marketing Corp President Jim Pounds and V-P sales Harsh Dalal paid a visit to Israel earlier this week aimed at seeking out customers for the company's rough diamond production.

Dominion owns 60 percent of the Ekati mine in Canada's NorthWest Territories, and 40 percent of the Ekati mine which is in the same province.

"We thank Jim Pounds and Harsh Dalal for taking up our invitation to come and visit the Israeli diamond industry and trade and, among others, to get a taste, just prior to the US & Israel Diamond Week in Israel, of the huge marketing event that we are creating here," Sahar said. "Pounds' exploratory visit here is the result of a series of preparatory talks that I have conducted during the past months. Israel's diamond industry needs suppliers such as Dominion to sustain its high level manufacturing capabilities and we think that Israel and Dominion are a good fit," Sahar noted.

"With the takeover of BHP's diamond interests, Dominion now controls the output of two of the world's most prolific diamond mines, Ekati and Diavik, mines that produce high quality diamonds that are of great interest to the Israeli diamond industry and trade. We genuinely hope that Dominion will finds it justified to add more Israeli firms to its customer portfolio," Sahar added.

Jim Pounds said that he and Dalal were in Israel foremost on a fact-finding mission. "We feel very welcome here, and are impressed with the vibrant energy of Israel's diamond industry and trade. Israel – and the Ramat Gan diamond exchange complex – is one of the most advanced diamond trading, distribution and manufacturing hubs. I can assure our Israeli colleagues that we will take everything we learn here back with us and carefully weigh our options," Pounds stated.