Arctic Journal
NWT
Dominion Diamonds Mines has completed the sale of the Ekati Diamond Mine and associated assets to Arctic Canadian Diamond Company Ltd.
The company has also assumed $70 million U.S. of Dominion’s outstanding debt “under its existing revolving credit agreement and the reclamation obligations of the Ekati mine.”
Arctic Canadian Diamond Company Ltd. is formed and owned by funds and accounts managed by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC.
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Mining and Exploration10/02/2021 09:31
In conclusion of a months-long saga, Dominion Diamonds Mines has finalized the sale of the Ekati Diamond mine and associated assets to Arctic Canadian Diamond Company LTD, a new company formed and owned by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC, CBC Canada reports. Operations were fully resumed in January, after a restart in November last year, and all workers are expected to return to work later this month. Dominion s 40% stake of Diavik is not part of the sale.