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Ekati Eyes 5M Carats as Production Resumes


Yesterday
15 march 2021
(diamonds.net) - The new owners of the Ekati mine are planning annual production of 5 million carats by 2022 after the deposit spent the past 10 months on care and maintenance. Arctic Canadian Diamond Company took over the operation in December as former owner Dominion Diamond Mines filed for bankruptcy protection in April 2020. Dominion was unable to meet its repayment obligations for debts that had swollen to CAD 1.2 billion ($820 million) when rough sales froze due to Covid-19. Its 40% stake in the Diavik mine remains part of the Dominion bankruptcy proceedings. Arctic, which is made up of three of Dominion’s bondholders DDJ Capital, Brigade Capital and Western Asset Management assumed $70 million of Dominion’s debt and injected $85 million of working capital into Ekati. That enabled the mine to resume operations in late January 2021, with the current plan extending operations to 2028, Arctic’s interim president, Rory Moore, told Ra ....

Rory Moore , Rapaport Research , Arctic Canadian Diamond Company , Dominion Diamond Mines , Brigade Capital , Western Asset Management , ராரீ மூர் , ராபபோர்ட் ஆராய்ச்சி , ஆர்க்டிக் கனடியன் வைரம் நிறுவனம் , ஆதிக்கம் வைரம் சுரங்கங்கள் , படைப்பிரிவு மூலதனம் , மேற்கு சொத்து மேலாண்மை ,