Dominion To Sell Ekati - Not Diavik

Mining and Exploration
08/12/2020 06:33

Mining.com reports the troubled Dominion Diamonds has brokered a deal to sell its Ekati mine, not the 40% stake in the Diavik operation, both in the Canadian Northwest Territories to an entity controlled by DDJ Capital Management LLC and Brigate Capital Management LP, in exchange for the assumption of US$70m in debt. Earlier this year, Dominion, owned by The Washington Companies, acquired creditor protection as the pandemic forced operations to halt and financial troubles mounted. In October, an earlier deal fell through when the agreemen failed to convince insurance providers.