The mining newspaper for Alaska and Canada's North
The mining newspaper for Alaska and Canada's North
Sorted by date Results 26 - 50 of 65
Explorers seeking new mineral discoveries in the Northwest Territories are expected to spend less in 2018 than the C$90 million they shelled out collectively last year. Natural Resources Canada projects spending this year for mineral exploration and deposit appraisals in the northern territory will total C$81.3 million. But some observers expect to see an uptick in hardrock mining exploration in 2018, especially in the highly prospective Slave Province where the Northwest... Full story
Rio Tinto and Dominion Diamond Mines Oct. 1 revealed three of the finest large rough diamonds recovered from their Diavik Mine in Northwest Territories. Collectively known as The Diavik Stars of the Arctic, these rough diamonds showcase a rare combination of size, quality and color from the Diavik diamond mine. The Diavik Stars of the Arctic will headline Rio Tinto's forthcoming "Specials" Tender, which showcases rough diamonds greater than 10.8 carats. Taking their...
Northwest Territories may fall behind Canada's two other territories in mining activity in the near-future, but projects underway in the northern jurisdiction hold substantial promise for mid- to long-term gains, especially if many current roadblocks come down. "Optimism is warranted for the territory's mining sector and the broader economy it drives," said Wally Schumann, minister of industry, tourism and investment for the Government of Northwest Territories. But...
Mining is expected to fuel strong economic growth in Nunavut and Yukon in the coming years, according to The Conference Board of Canada's latest Territorial Outlook. "With many new mining projects on the horizon in Nunavut and Yukon, growth is expected to take off over the next five years," said Marie-Christine Bernard, director, provincial and territorial forecasting, The Conference Board of Canada. The conference board's outlook for Northwest Territories, however, is not...
North Arrow Minerals Inc. April 5 announced the discovery of a new kimberlite during a 607-meter drill program carried out this winter at the company's Loki diamond project in the Lac de Gras region of Northwest Territories. Roughly 19 miles (30 kilometers) southwest of the Ekati Mine and 15 miles (24 kilometers) west of the Diavik Mine, Loki is found in a region known for its rich diamond deposits. North Arrow narrowed down the drill targets at Loki with surface sampling...
The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis Washington, acquired Dominion Diamond Corp. in a deal worth US$1.2 billion. "We look forward to owning and operating Dominion for decades to come, with a focus on maintaining safe and prosperous business operations in the Northwest Territories," said Washington. When the deal closed, Patrick Evans, who previously... Full story
North Arrow Minerals Inc. is focused on the identification and evaluation of its seven diamond projects in Canada – Naujaat, Mel and Luxx in Nunavut; Lac de Gras and Loki in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. In February, the company reported the recovery of 64.25 carats of commercial sized diamonds from a 209.8-metric-ton mini-bulk sample collected from the Q1-4 kimberlite at Naujaat. The three largest diamonds from the sample are 5.25,... Full story
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... Full story
North Arrow Minerals Inc. has seven diamond exploration projects in Canada - Qilalugaq, Mel and Luxx in Nunavut; Lac de Gras and Redemption in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. In March, North Arrow launched a 28-hole (1,577 meters) drill program at Redemption, a diamond project located in the Lac de Gras district of NWT about 32 kilometers (20 miles) southwest of the Ekati Mine. This program, which targeted geophysical anomalies within the central part of the property, did not...
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... Full story
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... Full story
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...
North Arrow Minerals Inc. has seven diamond exploration projects in Canada - Naujaat (formerly Qilalugaq), Mel and Luxx in Nunavut; Lac de Gras and Loki in Northwest Territories; Pikoo in Saskatchewan; and Timiskaming in Ontario. The company started 2017 by cutting a deal to acquire Stornoway Diamond Corp.'s interests in Naujaat and Pikoo, which gives North Arrow full ownership of both projects. The company followed up this transaction with a C$5 million private placement,...
With the opening of Gahcho Kué, Northwest Territories is reaping the rewards of past exploration spending across the vast diamond-rich expanse of northern Canada. In fact, the new diamond mine is expected to contribute some C$5.7 billion to Northwest Territories economy by 2028, the end of its currently projected life, according to a report commissioned by De Beers Group of Companies. Northwest Territories Minister of Industry, Tourism and Investment Wally Schumann... Full story
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. Nov. 7 announced plans to relocate its corporate office from Yellowknife, Northwest Territories to Calgary, Alberta. This relocation will impact roughly 100 of the company's Northwest Territories-based employees. The majority of its workforce, however, will continue to be employed in the Northwest Territories. In addition to its workforce at the Ekati mine site, Dominion will maintain an office in Yellowknife for certain key positions. The company's...
Dominion Diamond Corp. Sept. 22 reported the restart of the process plant at its Ekati Mine and the sale of an exceptional diamond recovered at the Northwest Territories operation. The Ekati process plant, which was damaged by a fire in June, resumed operations at full capacity on Sept.21. During the three-month downtime, Dominion implemented an active management strategy designed to mitigate the impact of the fire on production and cash flow for the current fiscal year. As... Full story
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... Full story
Dominion Diamond Corp. May 20 reported that Northwest Territories Minister of Lands Robert McLeod has approved the Jay project at the Ekati diamond mine, subject to the measures described in the Report of Environmental Assessment. "This is an important milestone for Dominion and for the northern economy," said Dominion CEO Brendan Bell. Jay, which has the potential to extend the life of Ekati by roughly a decade, is the most significant undeveloped deposit at the noted...
Klondike Gold Corp. April 14 said it is expanding its planned drill program at the Lone Star and Dominion gold properties near Dawson City, Yukon Territory from 20 holes to at least 50, and increases the budget from C$350,000 up to C$750,000. All 50 planned holes will target outcropping quartz vein arrays containing visible gold, outcrop grab samples with at least five grams per metric ton assay results, or both, and all are associated with magnetic breaks (faults) that are...
Dominion Diamond Corp. Feb. 22 reported positive results of a pre-feasibility study for mining the Sable kimberlite pipe located 17 kilometers (10.5 miles) north-northwest of the existing Ekati mine infrastructure in Northwest Territories. The pre-feasibility study updates certain key economic and technical assumptions regarding the Sable project from the preliminary economic assessment published in September. The Sable pipe lies beneath Sable Lake within the Core Zone Joint...
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... Full story
