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Dominion’s Ekati Sale Receives Court Approval
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A Canadian court has consented to Dominion Diamond Mines’ sale of its Ekati site and most of its assets to two of its bondholders.Under the agreement, DDJ Capital Management and Brigade Capital Management are set to acquire...
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Mining
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Dec 15, 2020
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Rapaport News
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Dominion Finds Buyer for Ekati
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Dominion Diamond Mines has reached a deal to sell its Ekati mine in Canada to two of its bondholders amid mounting debt that caused it to seek creditor protection.DDJ Capital Management and Brigade Capital Management will acquire...
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Mining
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Dec 08, 2020
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Rapaport News
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Dominion Nears Deal to Restart Ekati
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Dominion Diamond Mines plans to recall approximately 60 of its furloughed workers in December to prepare for a restart at its Ekati mine in Canada.Operations at the deposit, which has been shut since March due to Covid-19, will restart after...
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Mining
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Nov 15, 2020
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Rapaport News
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Dominion Fights Rio Tinto Diamond Sale
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Dominion Diamond Mines has asked a Canadian court to prevent Rio Tinto from selling its portion of rough diamonds from the Diavik joint venture, calling the sale unfair and unreasonable.Rio Tinto-owned Diavik Diamond...
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Mining
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Nov 01, 2020
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Rapaport News
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Dominion Seeks Rescue Deal to Avoid Liquidation
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Dominion Diamond Mines may have to enter liquidation if it fails to find a buyer or investor, chairman Brendan Bell warned in a court filing last week.The company has been seeking restructuring options after its planned sale of the...
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Mining
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Oct 28, 2020
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Rapaport News
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Rio Tinto Wants to Sell Dominion’s Diamonds
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Rio Tinto has asked a Canadian court to allow it to sell its partner’s portion of rough diamonds from the Diavik mine to recoup more than CAD $120 million ($91.4 million) required to run the mine. Dominion...
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Mining
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Oct 25, 2020
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Rapaport News
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Dominion in Flux as CEO Resigns
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Patrick Merrin has stepped down as interim CEO of Dominion Diamond Mines, deeming it “appropriate” to focus on his position at the rough producer’s parent company.Merrin, who is chief operating officer at the Washington Companies, took on the lead...
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Mining
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Oct 20, 2020
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Leah Meirovich
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Dominion’s Ekati Sale Falls Through
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Dominion Diamond Mines’ sale of Ekati is off the table after the buyer failed to agree on an arrangement with insurers to cover future costs of the site.Affiliates of the Washington Companies, Dominion’s owner, were due to acquire the...
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Mining
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Oct 11, 2020
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Rapaport News
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Dominion to Sell Ekati Mine for $126M
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Dominion Diamond Mines has sold its Ekati mine in Canada to affiliates of its owner, the Washington Companies, for $126 million amid struggles with mounting debt.The offer came from Canadian Diamond Holdings and...
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Mining
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Sep 17, 2020
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Rapaport News
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Two Parties Interested in Buying Dominion
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Two companies have expressed interest in acquiring Dominion Diamond Mines, according to an affidavit by its former CEO Brendan Bell.Those parties, who were not named in the June 12 legal filing, have signed non-disclosure agreements that...
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Mining
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Jul 07, 2020
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Rapaport News
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Rio Tinto Not Interested in Buying Out Dominion
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Rio Tinto has no plans to purchase Dominion Diamond Mines’ 40% share in the Diavik site, the Australian company said in a court filing.The miner, which already owns 60% of Diavik and manages the site through...
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Mining
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Jun 16, 2020
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Rapaport News
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Dominion to Sell Assets in Bid to Avoid Bankruptcy
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Dominion Diamond Mines has agreed to an asset sale that would allow it to resume mining operations and avoid bankruptcy.The deal, which is subject to court approval, would provide an affiliate of the Washington Companies — which purchased Dominion...
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Mining
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May 24, 2020
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Rapaport News
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Dominion Owes Creditors $820M
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Dominion Diamond Mines owes a combined CAD 1.2 billion ($820 million) to banks and other creditors, according to a court document it filed as part of its insolvency petition.While a large portion is due to businesses in the Northwest Territories, where...
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Mining
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May 06, 2020
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Rapaport News
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Dominion Asks for More Time to Repay Debts
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Dominion Diamond Mines has requested an extension to the insolvency protection it was awarded last week, stating that it needs more time to restructure its finances or find new investment.The miner asked the Alberta Court of the...
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Mining
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Apr 28, 2020
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Rapaport News
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Govt. Allows Mining at Argyle to Continue
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Mining at Rio Tinto’s Argyle deposit in Australia is proceeding as usual, despite a lockdown amid the coronavirus pandemic.The company has received full approval from the Western Australian state government to continue its production operations prior...
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Mining
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Apr 06, 2020
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Leah Meirovich
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Dominion Suspends Ekati Mining Operations
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Dominion Diamond Mines has put all operations at its Ekati mine in Canada on hold indefinitely in an effort to protect workers from the coronavirus pandemic.The miner has suspended operations at the Northwest Territories site because of the...
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Mining
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Mar 22, 2020
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Rapaport News
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Dominion Appoints Interim CEO
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Dominion Diamond Mines has named Patrick Merrin as its interim CEO, replacing Shane Durgin, who has left to pursue other opportunities. Merrin, who assumes the role with immediate effect, joined parent group...
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Mining
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Feb 11, 2020
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Rapaport News
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De Beers, Dominion Seek Canada Expansion
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De Beers and Dominion Diamond Mines have submitted paperwork indicating their desire to expand exploration at their current projects in Canada.In a December 31 permit request to Canada’s Mackenzie Valley Land and Water Board, De Beers noted interest...
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Mining
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Jan 06, 2020
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Rapaport News
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Yellow Prices to Increase in 2019, Says FCRF
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A reduced supply of vivid-yellow diamonds will drive a priceincrease this year, according to the Fancy Color Research Foundation (FCRF). “In the last three years we witnessed a substantial [quantity]of vivid yellows coming to market, mainly from...
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Polished Markets
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Feb 05, 2019
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Rapaport News
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Dominion May Cut 150 Mining Jobs
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Dominion Diamond Mines plans to lay off 150 employees at itsEkati mine in Canada’s Northwest Territories, according to union officials. “The employer’s intent is to replace these positions withcontracted workers by October 1, 2018, as a cost-cutting mechanism to increaseprofitability for...
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Mining
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May 17, 2018
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Rapaport News
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