The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
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Dominion Diamond Corp. July 17 reported that it has reached an agreement to be bought by The Washington Companies in a deal worth roughly US$1.2 billion. Owned by billionaire Dennis Washington, The Washington Companies is a group of privately held North American mining industrial and transportation businesses. Washington has agreed to pay cash to acquire all of Dominion's outstanding common shares for US$14.25 per share, a 44 percent premium to Dominion's share price of...
Dominion Diamond Corp. sorts and sells diamonds it receives through its substantial interests in the world-class Ekati and Diavik mines in Northwest Territories about 300 kilometers (190 miles) north of Yellowknife. The company operates the Ekati Diamond Mine through an 88.9 percent ownership of the project's Core zone as well as a 65.3 percent ownership in the Buffer zone. As of the end of April, Dominion's share of the reserves at Ekati was 110.8 million carats of diamonds, enough to keep the mine in operation into 2033. Mo...
While most mining jurisdictions have seen sharp drops in mineral exploration spending, such investments in Northwest Territories has largely held steady at about C$100 million annually during the past five years. As a result, this diamond-rich territory accounted for roughly 7 percent of mineral exploration spending in Canada in 2016, compared with only about 2 percent in 2011. The ultimate measure of mineral exploration success is not the amount of exploration dollars spent...
As the summer’s midnight sun gives way to aurora-filled winter night skies, seasons are once again changing in Canada’s Northwest Territories. And, much like the seasons, our resource industries are also in a time of transition. The NWT celebrates 25 years of diamonds this year with the opening of De Beers and Mountain Province’s Gahcho Kué, the world’s largest new diamond mine, which is expected to pour more than C$6 billion into our economy over its lifetime. Projects...
Dominion Diamond Corp. Nov. 1 announced that it has closed the deal to sell all of its outstanding shares to The Washington Companies for US$14.25 per share, worth roughly US$1.2 billion. Founded by billionaire Dennis Washington, The Washington Companies is a group of privately held North American mining industrial and transportation businesses. "This is an exciting day for Dominion Diamond and The Washington Companies," said Washington President Lawrence Simkins. "We fully su...
Peregrine Diamonds Ltd. continues to focus on the exploration and potential development of its Chidliak diamond project located roughly 120 kilometers (75 miles) north of Iqaluit, the capital of Nunavut. The company has identified 71 kimberlites on the 413,000-hectare (1 million acres) Chidliak property, eight of which are considered to be potentially economic. A 2016 preliminary economic assessment for developing two of these kimberlite pipes, CH-6 and CH-7, envisions an open-pit diamond mine with a life of roughly 10...
Dominion Diamond Corp. budgeted US$9 million for exploration around the diamond-rich Lac de Gras region in the Northwest Territories, including a renewed focus on exploration drilling on the Ekati Mine property and kimberlite expansion drilling at Diavik. Leveraging its infrastructure advantage, the company renewed its focus on investigating the diamond potential of the wider Ekati property, where no greenfield exploration has taken place since 2006. Dominion operates the Ekat...
Dominion Diamond Corp. March 19 confirmed that it has received an unsolicited US$1.1 billion buyout bid from Washington Corporations, a group of companies owned by billionaire Dennis Washington. Dominion said the preliminary expression of interest submitted by Washington is subject to, among other things, extensive due diligence, negotiation of satisfactory agreements and regulatory approvals, and is contingent on entering into discussions with Dominion on aggressive and off market terms and conditions. Dominion, which owns...
Dominion Diamond Corp. April 12 provided an update on its exploration and development pipeline in the Northwest Territories. This includes the advancement of its portfolio of development projects at the Ekati and the Diavik diamond mines and increasing exploration in Lac de Gras, the highly prospective region of Northwest Territories that hosts both operations. "We continue to execute on our long-term strategy and create value for all shareholders. With the support of our stro...
Dominion Diamond Corp. March 31 announced an increase in reserves for the Diavik diamond mine in Northwest Territories that supports two additional years of production, extending the life of this operation to 2025. The new mine plan, along with updated reserves and resources for Diavik are included in an updated technical report for Diavik. The new plan anticipates the mine will recover 46 million carats of diamonds from 2017 through 2025, an increase of 6.3 million carats...
Dominion Diamond Corp. June 27 said the processing plant at its Ekati diamond mine in Northwest Territories is out of operation due to a June 23 fire. The blaze was quickly extinguished and all personnel were safely evacuated from the plant without injury. The damages were limited to a small area of the process plant, with no damage to the main structural components. Repairs will require the replacement of one of the main degritting screens and associated components, as well...
Athabasca Nuclear Corp. May 2 said it has entered into a binding letter of intent with North Arrow Minerals Inc. to acquire the Torp Lake and Phoenix lithium properties. The Torp Lake project covers 1,003 hectares (2,478 acres) near tidewater in the north Slave region of Nunavut. The Torp Lake Project hosts the McAvoy lithium-rich pegmatite contained in the mineral spodumene. Past channel sampling of pegmatite at McAvoy has returned six meters grading 4.5 percent lithium...
Mineral exploration spending in Northwest Territories dipped sharply in 2015. While the final numbers are not in, Natural Resources Canada predicts exploration and deposit appraisal expenditures in the territory to be around C$43.6 million, or less than half the roughly C$95.8 million invested last year. Industry and government leaders in the territory, however, have come together "to develop a robust mineral industry in the NWT." In January, the government announced the...
DDC.TO: TSX Chairman: Robert Gannicott Chief Executive Officer: Brendan Bell Chief Operating Officer: Chantal Lavoie Dominion Diamond Corp. mines rough diamonds at the Ekati and Diavik mines, both located in Northwest Territories about 300 kilometers (190 miles) north of Yellowknife. The company operates the Ekati Diamond Mine through an 88.9 percent ownership of the project's Core zone as well as a 65.3 percent ownership in the Buffer zone. The 2015 exploration at Ekati focused on the Jay and Sable kimberlite pipes. Jay,...
Dominion Diamond Corp. Oct. 15 reported that its Diavik Diamond Mine in Northwest Territories produced 1.27 million carats of diamonds from 480,000 metric tons of ore during the third quarter of 2015. Diamonds recovered during the third quarter were 24 percent lower than output during the same period of 2014, reflecting a 15 percent drop in the amount of material processed and lower recovered grades from the A-154 South and A-418 kimberlite pipes. This was partially offset by...
Dominion Diamond Corp. April 20 said Diavik Diamond Mine processing volumes for the first quarter of 2015 fell 19 percent compared to the first three months of last year. The company attributes this decrease to the lack of stockpile ore that was available last year; mining through an area of higher-than-normal dilution; and upgrades made to the crusher during the quarter, which led to reduced capacity. As a result, 1.5 million carats of diamonds were recovered during the...
Dominion Diamond Corp. March 6 reported an updated reserves and resources statement, which adds 3.9 million metric tons containing roughly 13 million carats to the mineral reserves at the Diavik diamond mine in Northwest Territories. As of Dec. 31, 2014, the Diavik Diamond Mine had 18.1 million metric tons of proven and probable mineral reserves containing 53.3 million carats of diamonds. At the A-21 pipe, 3.7 million metric tons containing 10 million carats has been promoted to proven reserve from probable reserve material....
Dominion Diamond Corp. Feb. 23 reported annual production results for the Ekati and Diavik diamond mines in Northwest Territories. For the year ending Jan. 31, the company's Ekati mine produced 3.16 million carats of diamonds from 4.13 million metric tons of ore averaging 0.76 carats per metric ton, a marked improvement over the 1.66 million carats of diamonds from 3.36 million metric tons averaging 0.49 c/t for 2013. Dominion Diamond's 40 percent share of the mine production...
Thanks to recent progress in development of several major projects in 2014, the outlook for diamond mining in Northwest Territories is suddenly a lot brighter. This is especially good news for the territory's mining industry, which is largely dependent on the production of diamonds now and in the foreseeable future. This point was driven home most forcefully in "Measuring Success 2014: NWT Diamond Mines Continue to Create Benefits," a report recently released by the NWT & Nunavut Chamber of Mines. An update of a January 2013...
The mining industry has been a pillar of the Northwest Territories' economy for more than 80 years. A strategic approach to manage resources in the territory is creating a new investment climate and opportunities for responsible resource development. In addition to being the largest private sector contributor to the NWT economy, the mining industry is also the largest private sector employer. As new mining and exploration projects emerge, it is essential to keep environmental sustainability and social responsibility top of...
DDC: TSX / NYSE Chairman and CEO: Robert Gannicott Chief Operating Officer: Chantal Lavoie Executive Vice President, Community Affairs: Brendan Bell Dominion Diamond Corporation mines rough diamonds at the Ekati and Diavik mines, both located in Northwest Territories about 300 kilometers (190 miles) north of Yellowknife. The company operates the Ekati Diamond Mine through an 80 percent ownership of the project's Core zone as well as a 58.8 percent ownership in the Buffer zone. In July, Dominion Diamond Corp. announced that th...
Government policymakers in Canada and the Northwest Territories are joining mining companies in preparing for an employment boom that economists predict will swamp the North in the next three to five years. The anticipated surge in jobs is part of a nationwide wave of employment growth expected in the next decade. Canada will need 145,000 new workers in the mining sector along with 300,000 new workers in construction and 150,000 new workers in petroleum. The mining-driven Northwest Territories economy generates nearly 50...
Diamonds exploration heated up in the Northwest Territories in 2014 as more and more companies mounted campaigns aimed at identifying the next big discovery in a region that has already produced three operating diamond mines and one well-advanced mine project. "It's been an exciting season for us because on April 1, we took over management of mineral and oil and gas resources in the territory. Overall, we're seeing a consistent trend for exploration as well as a bit of a resurgence of interest in diamonds," Pam Strand,...
Northwest Territories is a land filled with vast mineral potential, rich in both resources and opportunity. Industry interest in this potential continues to rise and the Government of the Northwest Territories is actively working to ensure resource development is environmentally sustainable and benefits the residents, communities and businesses of the NWT. Currently, four mines are operating in the NWT: Dominion Diamond Corp.'s Ekati Diamond Mine, Rio Tinto's Diavik Diamond Mine, DeBeers' Snap Lake Diamond Mine and North...
Northwest Territories continued to benefit in 2013 from a recent surge of exploration interest. A vast expanse of mountains, forests and tundra that is roughly two-thirds the size of Alaska, the territory covers 1.17 million square kilometers (431,162 square miles). "We have, in the North, what the world wants - what emerging markets need," Northwest Territories Premier Robert "Bob" McLeod told an audience at a Prospects North gathering in Yellowknife Sept. 11. "We are the third-largest diamond producer in the world. In...
