After the US geological department reported that there is a likelihood of mineral resources being present in the Arctic pole, online diamond and jewelry retailer Shenoa & Co. plans to mine for diamonds and gems in association with an offshore mining company - Ryan Mining. Shenoa's COO Scott Cowan said, "We're not waiting for others to bring diamonds to us. We're going straight to the source." Many countries are following suit to gain rights to various areas of the Arctic.