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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’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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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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Dominion CEO Patrick Evans Resigns
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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...
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Mining
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Dec 10, 2018
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Leah Meirovich
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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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Dominion Goes Private as Takeover Deal Closes
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The Washington Companies, a group of mining businesses, hascompleted its acquisition of Dominion Diamond Corporation after receiving allthe required approvals.Dominion will operate as a standalone, private company underthe leadership of new CEO Patrick Evans, who assumes...
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Mining
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Nov 02, 2017
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Rapaport News
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Washington Nears Dominion Completion
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The Ontario Superior Court of Justice has approved the WashingtonCompanies’ acquisition of Dominion Diamond Corporation, the Canada-based minerreported Friday.The deal’s completion still depends on Dominion holding atleast $150 million in cash if the closing occurs...
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Mining
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Sep 25, 2017
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Rapaport News
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Dominion Mulls Ekati Underground Project
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Dominion Diamond Corporation is considering a $628 million investment to go underground at the Fox pit and extend its Ekati mine operation by seven years. The current mine plan at Ekati accounts for operations until 2035, with...
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Mining
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Sep 10, 2017
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Rapaport News
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Patrick Evans to Be New Dominion Chief
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Dominion Diamond Corporation’s new owner has appointedPatrick Evans as CEO of the Canada-based miner.Evans (pictured) will take charge of Dominion once the WashingtonCompanies’ $1.2 billion acquisition of the rough producer closes later thisyear, the...
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Mining
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Aug 10, 2017
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Rapaport News
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Dominion Seals $1.2B Takeover by Washington
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The Washington Companies will acquire Dominion DiamondCorporation for $1.2 billion, the firms said in a joint statement Monday.Washington, a mining group founded by entrepreneur DennisWashington, has agreed to buy all shares in Dominion for $14.25 each...
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Mining
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Jul 17, 2017
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Rapaport News
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Washington Companies in Talks to Buy Dominion
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Dominion Diamond Corp, the third-largest diamond producer by value, is in advanced talks with the Washington Companies on a cash-takeover bid, news agencies reported.Negotiations are focused on the two sides settling on a price for the Canadian diamond...
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Mining
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Jul 16, 2017
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Rapaport News
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Dominion Team to Assess Potential Sale
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Dominion Diamond Corporation has set up a team of directorsto evaluate a potential sale of the company, the miner said in a statementMonday.The committee will work with Dominion’s management team andadvisors to “consider alternatives that could include the...
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Mining
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Mar 27, 2017
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Rapaport News
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Dominion, Stornoway in Merger Talks: Report
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Dominion Diamond Corporation and Stornoway DiamondCorporation have held discussions over a merger, Reuters reported this week, asDominion continued to denigrate a separate takeover offer from the Washington Companies.The merger talks cover the possibility...
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Mining
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Mar 22, 2017
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Rapaport News
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Dominion Rejects $1.1B Takeover Bid
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Dominion Diamond Corp has turned down an offer to be purchased for over $1 billion by the Washington Companies, the mining company said late Sunday. Washington, which has interests in mining, transportation and heavy equipment businesses...
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Mining
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Mar 20, 2017
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Rapaport News
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