Acquires diamond mine from Arctic Canadian for US$136M
Burgundy Diamond Mines Ltd. has finalized its acquisition of the Ekati diamond mine in Canada’s Northwest Territories, adding another precious stone mine to its portfolio.
Already a 40% partner with North Arrow Minerals Inc. at the Naujaat diamond project in Nunavut, Burgundy closed a transaction on July 4 that provides the Australian diamond company full ownership of the world-class Ekati Mine, which will significantly elevate Burgundy’s efforts to deliver high-end cut and polished diamonds mined in Canada’s Arctic to global markets.
You can read a complete breakdown of Ekati, Burgundy, and the opportunity the mine will play for the company at Burgundy set to buy Ekati diamond mine in the March 14, 2023 edition of North of 60 Mining News.
“Burgundy is well-positioned for growth, with significant value to be delivered to all stakeholders through our fully integrated end-to-end value chain now including the global scale Ekati asset,” said Burgundy Diamond Mines CEO Kim Truter. “Burgundy investors have overwhelmingly supported and endorsed this acquisition, and they are showing great interest in producing sustainable and valuable natural diamonds via mines in Canada and bringing them to market through our innovative business model.”
For the rest of this article: https://www.miningnewsnorth.com/story/2023/07/06/news/ekati-finds-a-new-home-with-burgundy/8000.html