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Dominion diamond sorting 150
Dominion Restarts Rough Sales
Dominion Diamond Mines has sold $46 million worth of rough at its first diamond sale since March, enabling the company to repay some of its debts amid insolvency proceedings.The miner expects to sell approximately $8 million...
Mining Sep 23, 2020 Rapaport News
Dominion Ekati 150
Dominion to Sell Ekati Mine for $126M
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...
Mining Sep 17, 2020 Rapaport News
Ekati
Two Parties Interested in Buying Dominion
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...
Mining Jul 07, 2020 Rapaport News
Lucara Podcast
Eira Thomas Confident Lucara Can Navigate Crisis
The diamond mining sector has been hard hit by the coronavirus crisis. There has been a significant drop in demand — when rough sales could even take place — forcing miners to reconsider their production programs...
Mining Jun 22, 2020 Avi Krawitz
Dominion Diavik mine
Dominion Sues Rio Tinto over Handling of Diavik
Dominion Diamond Mines has sued joint-venture partner Rio Tinto, alleging that the mining giant breached the agreement by failing to control costs at the Diavik deposit in Canada.Rio Tinto operated the mine significantly over...
Mining Jun 17, 2020 Rapaport News
Rough diamonds in a loupe.
Rio Tinto Not Interested in Buying Out Dominion
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...
Mining Jun 16, 2020 Rapaport News
Dominion
Dominion to Sell Assets in Bid to Avoid Bankruptcy
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...
Mining May 24, 2020 Rapaport News
Dominion
Court Orders Release of Dominion’s Diamonds
A Canadian court has ordered the Rio Tinto subsidiary that manages the Diavik mine to release inventory belonging to Dominion Diamond Mines it had been holding as a guarantee for missed payments.Diavik Diamond Mines (DDMI) has...
Mining May 11, 2020 Rapaport News
Dominion
Dominion Owes Creditors $820M
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...
Mining May 06, 2020 Rapaport News
Dominion insolvency
Dominion Insolvency ‘Puts Diavik Mine at Risk’
A subsidiary of Rio Tinto has voiced concern over the continuity of the Diavik mine after its joint-venture partner in the project was granted protection from creditors. The insolvency order obtained in late April by Dominion...
Mining May 03, 2020 Rapaport News
Dominion
Dominion Asks for More Time to Repay Debts
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...
Mining Apr 28, 2020 Rapaport News
Rapaport Research Report April Cover
Rough Market Faces Its Toughest Year Yet
As the diamond market considers its options during the industry-wide lockdown, manufacturers in India are planning a freeze on rough imports. The move has precedent. Back in 2008, as financial markets collapsed, India imposed a one-month moratorium...
Rough Markets Apr 28, 2020 Avi Krawitz
Dominion 552
Dominion Files for Insolvency Protection
Dominion Diamond Mines has filed for and received insolvency protection, a month after suspending operations at its Ekati deposit in Canada due to the coronavirus pandemic.The company was granted protection from its creditors under...
Mining Apr 23, 2020 Rapaport News
Rio Tinto
Govt. Allows Mining at Argyle to Continue
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...
Mining Apr 06, 2020 Leah Meirovich
Dominion
Dominion Suspends Ekati Mining Operations
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...
Mining Mar 22, 2020 Rapaport News
Dominion
Dominion Appoints Interim CEO
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...
Mining Feb 11, 2020 Rapaport News
De Beers Dominion
De Beers, Dominion Seek Canada Expansion
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...
Mining Jan 06, 2020 Rapaport News
Patrick Evans
Ex-Dominion CEO to Launch Lab-Grown Venture
The former CEO of Dominion Diamond Mines is launching alab-grown-diamond venture targeting the bridal market, the Financial Timesreported. Patrick Evans’s company will produce synthetic stones at aUS location with access to cheap solar power,...
Technology Jan 15, 2019 Rapaport News
Dominion 553 carat yellow 150
Dominion Recovers 553ct. Yellow Diamond
Dominion Diamond Mines has unearthed the largest knowngem-quality diamond found in North America, it said last week. The company recovered the 552.74-carat yellow diamond in Octoberat its Diavik mine in Canada’s Northwest Territories. It beats...
Mining Dec 16, 2018 Rapaport News
Dominion Patrick Evans
Dominion CEO Patrick Evans Resigns
Dominion Diamond Mines CEO Patrick Evans has stepped down withimmediate effect after a year at the company, the miner confirmed to RapaportNews Sunday. Evans joined the Canada-based producer in November 2017 afterits $1.2 billion...
Mining Dec 10, 2018 Leah Meirovich
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