Canadian Mining Journal

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DIAMONDS: Sale of Ekati mine to close April 10

NORTHWEST TERRITORIES – The governments of Canada and the Northwest Territories, as well as related regulatory authorities, have confirmed that they will approve the sale of the Ekati diamond mine at Lac de Gras to Dominion Diamond Corp....



NORTHWEST TERRITORIES – The governments of Canada and the Northwest Territories, as well as related regulatory authorities, have confirmed that they will approve the sale of the Ekati diamond mine at Lac de Gras to Dominion Diamond Corp. (formerly Harry Winston Diamond Corp.) of Toronto. The deal is expected to close on April 10, 2012, and includes various affiliates, the sorting facility in Yellowknife and the sales office in Antwerp.

The former owner, BHP Billiton, announced late last year it wanted to divest its diamond business and accepted $500 million as the price of its 80% interest in Ekati.

Following an initial capital expenditures of nearly C$900 million, Ekati became Canada’s first diamond producer when production began in October 1998.

Please see DDCorp.ca.