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De Beers Canada Spends $292M With Local Suppliers

Company pledges to continue investing locally.
May 3, 2010 3:48 AM   By Avi Krawitz
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RAPAPORT... De Beers Canada reported that it spent $292 million on goods and services for the Snap Lake and Victor mines in 2009. The company spent $152 million on operations contracts at Snap Lake, 74 percent of which was supplied by northern businesses and 51 percent of which was provided by aboriginal suppliers. At Victor, De Beers spent $119 million on goods and services, 32 percent of which was supplied by aboriginal businesses, the company noted in its annual report.

Chantal Lavoie, De Beers Canada’s acting chief executive officer (CEO), pledged that the company would continue to invest in local programs focusing on business opportunities, education, training and employment.

“These are key areas identified by our community partners and are also areas where we think our company can make a difference,” she said.

De Beers Canada contributed $3.7 million to corporate social investment for the year, mainly in communities based near its operations that focus on education, youth literacy and capacity building, the company explained.

De Beers Group previously reported that production at Snap Lake reached 443,543 carats in 2009, while at the Victor mine, 696,484 carats were produced.
Tags: Avi Krawitz, Avi Krawitz, De Beers, De Beers Canada, Production, SnapLake Mine, Victor Mine
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