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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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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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Mining Sell-Off Highlights Sector’s Woes
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Just as the sun emerged from behind the clouds and diamond demand began to recover from a glut in the manufacturing sector, the coronavirus pandemic hit. Its rapid spread forced many miners to shut down...
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Mining
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Aug 06, 2020
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Leah Meirovich
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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 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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Dominion Files for Insolvency Protection
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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...
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Mining
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Apr 23, 2020
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Rapaport News
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Heavy Debt Looms over Mining Shutdown
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A number of diamond-mining companies that have halted production during the COVID-19 crisis will find it difficult to resume operations amid their struggles with debt, analysts have predicted.The warning comes after several miners announced...
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Mining
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Apr 23, 2020
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Leah Meirovich
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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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Production Continues as Miners Fight Virus Impact
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Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
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Mining
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Mar 19, 2020
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Leah Meirovich
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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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Pink Diamond Prices Firm in 1Q
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Pink fancy-color diamonds outperformed other major colorcategories in price terms during the first quarter, the Fancy Color ResearchFoundation (FCRF) said. “At a time of diamond-market uncertainty, fueled by growingwhite-diamond inventory and the emergence of lab-grown...
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Polished Markets
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May 05, 2019
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Rapaport News
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DEF Debuts Scholarships for Canadian Industry
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The Diamond Empowerment Fund (DEF) has launched its firsteducational grants for young people in Canada’s Northwest Territories (NWT). “Creating education and employment opportunities for youthwho live in areas where natural diamonds are...
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Mining
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Apr 14, 2019
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Rapaport News
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Canada’s Ice Road Opens for Milestone Year
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February is a crucial time for Canada’s diamond mines.Located in the most remote region of the country’s frozen Northwest Territories(NWT), Rio Tinto, Dominion Diamond Mines and De Beers have a two-month windowto connect their mining operations...
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Mining
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Feb 07, 2019
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Leah Meirovich
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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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Diamond Resources Might Not Be Forever
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While it’s true that value comes from rarity, no naturalresource lasts forever, and the rare is becoming even rarer. Diamond productionis set to peak in 2019, after which it will begin a steady decline. De Beersestimates global...
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Mining
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Aug 14, 2018
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Leah Meirovich
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Dominion Agrees to Save 150 Ekati Jobs
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Dominion Diamond Mines has reached a tentative agreementwith the Union of Northern Workers (UNW) that could potentially save 150 jobsat the Ekati deposit. Dominion had planned to replace that many employees withcontract workers...
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Mining
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Jun 28, 2018
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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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Dominion Holds Off on Ekati Expansion
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Dominion Diamond Mines has delayed a key extension to itsEkati mine for a second time as it assesses the project’s profitability, according to reports. The miner originally postponed the Jay expansion in June2016 because it determined that the...
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Mining
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May 10, 2018
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Rapaport News
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