The capital and largest district of the Northwest Territories of Canada, Yellowknife metropolitan name was said to be derived from the ‘Copper Indians’ or ‘Yellowknife Indians’, a local Dene tribe, who used to trade copper deposits in the region. However, the city is known for two nicknames, one as Somba K’e, a Dogrib language meaning “where the money is”, and the other as the “Diamond Capital of North America”. It was established as a city in 1934 after locals found gold in its area.
Gold mining was once the major generating economic sector of Yellowknife, however, it soon ceased to a close when operating cost increases despite of the falling value of gold. Gold deposits finally shut down in 2004 as diamond mining starts to boom. Companies like the Ekati Diamond Mine, Diavik Diamond Mine and De Beers’ Snap Lake Diamond Mine are the city’s biggest employers.
Further, Federal Government, Dominion Diamonds, Territorial Government, First Air, RTL Robinson Trucking and NorthwesTel are also sectors that employ various individuals. Also, a considerable line of work for Yellowknife’s population is in the transportation industry as diamond deposits need to be transported to various regions. Tourism, health, communication and education industry are also part of their economy.