Dominion Diamond Corp. Mining News

Washington buys Dominion Diamond for $1.2bn as investors ok sale

Transaction gives the US-based buyer full ownership of Canada’s Ekati diamond mine and a 40% stake in Diavik, which is operated by Rio Tinto.

Former chief executive of Mountain Province to lead Dominion Diamond

Patrick Evans will become the new CEO once a deal to purchase the Canadian diamond company closes later this year

Washington Companies buys Dominion Diamond for $1.2 billion

The US company plans to operate Dominion as a standalone business, appointing a new chief executive based in Canada.

Dominion Diamond to seek permits for underground project at Ekati in Q3

The project, called Misery Deep, will require an investment of $6 million in 2018, $69 million in 2019 and $19 million in 2020.

Dominion says no contact with Washington Corp after $1.1bn takeover bid

The company has repeatedly offered to engage with Washington Corp on "customary terms," according to Chairman Jim Gowans, but that has not happened.

Dominion Diamond looks for potential buyers in own backyard — source

Strategy is part of Dominion's goal of securing the best deal possible for all its shareholders.

Dominion Diamond stock goes gangbuster on $1.1bn takeover bid

Montana-based Washington Co is offering 36% above the closing price of the Canadian miner’s shares on Friday.

Diamond producers go after Millennials with Oscars-time spot

The target group was the the top diamond consumer in 2015, a year in which most commodities plummeted, hitting the mining industry very hard.

Dominion Diamond, Ekati miners reach provisional four-year deal

More than 500 unionized workers are expected to ratify the agreement in an upcoming vote scheduled for March.

Dominion Diamond CEO to step down due to family reasons

Brendan Bell, who has also resigned to Dominion's board, has agreed to stay on as CEO until June 30 to ensure a smooth transition.

Global rough diamond production about to reach its peak

Global rough diamond production will reach its peak in only three years before entering into a supply deficit by 2020, two separate reports show.

Canada's Diavik mine axes 51 jobs

Company says it was forced to lay off employees from across the business given "current market conditions."

Dominion moves headquarters to Calgary in cost-cutting effort

The move comes on the heels of a similar decision by De Beers Canada, which moved its headquarters from Toronto to Calgary in July.

Dominion Diamond stock apathetic amid significant production ramp

This was supposed to be a key year for Dominion, especially with the commencement of mining at the company’s rich Misery Main pipe at its Ekati mine.

Peregrine Diamonds to focus on $95 million all-weather road before moving ahead with Nunavut mine

The Chidliak mine, in Canada’s Nunavut, is expected to produce around 12 million carats during its 10-year lifespan.

Dominion Diamond to go ahead with Ekati mine expansion

Developing the Jay pipe will help keeping the mine in production until 2033.

Key expansions at iconic Canadian diamond mines hit by setbacks

While Dominion Diamond has pushed construction of Ekati’s new Jay pipe to 2018, Rio has said that a denial of a request to change its water licence could have an adverse impact on Diavik.

Dominion Diamond secures environmental approval for Ekati mine expansion

Project could help keep Ekati producing diamonds until 2033, or 13 years later than the expected end of its mine life.

Dominion Diamond swings to loss, names new chairman

The miner lost $11.6 million in the fiscal 2016, compared to a profit of $170.3 million in 2015.

Dominion Diamond can go ahead with Ekati mine expansion — watchdog

The board's recommendation still needs to be approved by Canada’s Northwest Territories authorities.

Despite De Beers and Rio's efforts, global diamond output to jump 1.3% this year

The miners concerted effort to limit global diamond supply is forecast to be offset by stable Russian production, new mines, and production increases by Dominion Diamond and Petra Diamonds.

Dominion Diamond chairman steps down, replaced by De Beers veteran

Robert Gannicott's replacement as chairman will be Jim Gowans, a former DeBeers Canada CEO and most recently the co-president of Barrick Gold,.

Dominion Diamond shareholders revolt, call for changes

Investors have publicly called on the company’s independent directors to deal with the “misguided policies and missed opportunities” that have hurt their investment.

Crucial week for Dominion Diamond’s Ekati mine

The company hopes to begin mining from the Jay pit before Ekati's existing reserves run out in 2020, and so avoid laying off workers.

Seven diamond miners form group to fight synthetics

But some believe main challenge will be falling prices and wholesalers difficult access to credit to purchase rough diamonds.