A company that operates a diamond mine in the Northwest Territories is relocating its corporate head office to Calgary in a move it says will save $19 million a year.
Dominion Diamond Corp., which runs the Ekati mine and has a 40 per cent stake in the Diavik mine northeast of its current head office in Yellowknife, said the move is part of wider efforts to cut costs.
The company, which plans to lay off workers as part of the move, said 75 per cent of its annual savings will come from lower labour costs, while the rest will come from reduced office rents, among other savings.
Calgary Economic Development, which is attempting to attract new corporate headquarters to vacant downtown offices, said it was not directly involved in lobbying Dominion to move to the city.
“We never like to see a company leave an area, particularly a city like Yellowknife (where) we know Dominion Diamond provides a significant number of jobs,” Mary Moran, president and CEO of the agency, said Monday. “If they’re going to make a move, then we’re happy that they’re coming to Calgary.”
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