The Ekati diamond mine in Northwest Territories. Credit: Dominion Diamond.
After a roller coaster of a year that almost forced an early end to the Ekati diamond mine, the operation’s new owners, Arctic Canadian Diamond Company, are hoping that the recovering diamond market will give Canada’s first diamond mine a more solid foundation.
The mine’s future was put in doubt last March, when operations were suspended in response to the pandemic-related shut down of diamond markets. Then its owner, Dominion Diamonds — which had been bought by Washington Companies in 2017 for US$1.2 billion — filed for creditor protection under the Companies’ Creditors Arrangement Act (CCAA) in April.