Dominion Diamond Mines has completed the sale of its Ekati mine in Canada, and has resumed operations at the site.Arctic Canadian Diamond Company, a business owned by two of Dominion’s bondholders, has acquired all of Dominion’s assets, except its 40% stake in the Divaik mine, which it shares.
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Dominion Diamond Mines ULC ( Dominion or the Company ) announced today that it has completed the previously announced sale of the Ekati Mine and associated assets to Arctic Canadian Diamond Company Ltd. ( Arctic ), a company formed and owned by funds and accounts managed by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC. The Alberta Court of Queen s Bench (the Court ) approved the sale pursuant to an order issued on December 11, 2020.
Arctic has acquired substantially all of Dominion s assets, excluding Dominion s interest in the joint venture agreement and liabilities relating to the Diavik Diamond Mine, in consideration for the assumption of various liabilities owing to Dominion s creditors, employees, suppliers and surety bond holders, including assuming US$70 million of Dominion s outstanding indebtedness under its existing revolving credit agreement and the reclamation obligations of the Ekati mine. In addition, Arcti
Rio Tintoâs diamond output shrinks as it exits Australia Posted February 02, 2021 | By Callum Glennen Mining giant Rio Tinto has announced its total diamond production fell 14 per cent in 2020 to 14.7 million carats, with its Australian mine entering its final year of production and amid multiple legal challenges in Canada.
The largest contributor to the company’s overall decline in diamond recoveries was a 16 per cent decrease at the Argyle site in Western Australia. The mine, of which Rio Tinto is the sole owner, closed on November 3 last year.
Meanwhile, production at the Diavik Mine in Canada s Northwest Territories, which Rio Tinto operates in partnership with Dominion Diamond Mines (‘Dominion’), saw a decline of 7 per cent to 3.7 million carats.
Rio Tinto’s diamond production fell in 2020 as the miner reduced output from its Argyle site in Australia in preparation for its shutdown.Total production slid 14% to 14.7 million carats for the full year, the company said Tuesday. Output at Argyle dropped 16% to 10.9 million carats, with the.
But
a May 27 confidence motion citing concerns with Nokleby s performance the first attempt to push her out of cabinet
Initially, a vocal contingent of supporters vouched for Nokleby. An
online petition to Save Minister Katrina Nokleby garnered nearly 1,500 signatures and Cochrane expressed her complete confidence in the minister.
But Nokleby faced additional ire this summer when
plucked Procurement Shared Services, which deals with such contracts, out of Nokleby s hands and placed it into those of Finance Minister Caroline Wawzonek.
Nokleby was, eventually,
In the legislature, she decried a toxic culture of secrecy [that] has allowed my character and professionalism to be disparaged, while not allowing me to respond, reply, or defend myself.