Shareholders expected to receive $14.25 US per share in cash when acquisition closes
The Canadian head office of Dominion Diamond is to remain in Calgary after its shareholders voted on Tuesday to approve its $1.2-billion US sale to Washington Companies.
First diamond mine in the Northwest Territories could stay open until 2042
Further expansion of underground mining operations at the Ekati diamond mine could keep the mine in business until 2042, according to a preliminary economic assessment released by Dominion Diamond Corporation on Wednesday.
Dominion operates the mine, and owns a controlling interest.
Dominion Diamond had previously rejected an earlier bid as 'highly opportunistic'
U.S-based conglomerate The Washington Companies is buying Dominion Diamond Corporation, one of the world's largest diamond producers, for $1.2 billion US.
At least 28,000 jobs will open in the Northwest Territories within the next 15 years, thanks mostly to the territory's aging population.
A report from the Conference Board of Canada says filling those positions will be a challenge for the N.W.T. On June 30, the Government of the Northwest Territories released a new immigration plan to help address the territory's potential labour shortage.
YELLOWKNIFE (JUNE 7, 2017) – Nearly $1 million is being invested in the future of Northwest Territories (NWT) exploration and prospecting thanks to the Government of the Northwest Territories’ (GNWT) signature incentive program.
Dominion Diamond announced positive results for its pre-feasibility study at the Misery Deep pit on Tuesday.
The Misery Main pipe open-pit mine is expected to account for around 60 per cent of of the diamond carats recovered at Ekati mine in fiscal 2018.
The pre-feasibility showed a probable mineral reserve of between 1.8 million tonnes, or 8.7 million carats, at Misery Deep, which could net Dominion $92 million.
Darnley Bay Resources Ltd. has started hiring local workers as it tries to revive the old Pine Point Mine east of Hay River, Northwest Territories.
The company, with headquarters in Toronto, purchased the project for $8 million in cash and shares last December.
Stocks hit $17.80 per share after company announces plan Monday
Dominion Diamond Corporation's stocks rose again Monday after announcing it would listen to offers from potential buyers for the company.
Shares in the mining company rose after the company announced the decision in a statement Monday morning.
The territory’s Gahcho Kué diamond mine officially began commercial production Thursday.
The mine, located 280 kilometers northeast of Yellowknife, is expected to produce around 54 million carats of rough diamonds over its lifetime.
Thursday’s announcement marks an important operational milestone and also comes slightly ahead of schedule.
187.7-carat diamond from Diavik mine on display at the Smithsonian Natural History museum in Washington
The Northwest Territories' biggest diamond find has been enjoying a marquee run at the most popular museum in the United States.
The 187.7-carat Foxfire diamond — the largest diamond ever found in North America — is on display at the Smithsonian National Museum of Natural History in Washington D.C.