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  • Australia-based Burgundy Diamond Mines has signed a binding share purchase agreement to acquire Canada-based Artic Canadian’s (AC) assets, including the entirety of Ekati Diamond mine, for nearly $136m. AC owns 100% of all businesses, assets and other interests comprising the producing Ekati mine in Canada’s Northwest Territories and expects the sale to result in a significant recapitalization of the firm and allow for continued operations for the Ekati Diamond Mine, which has been in production for nearly 25 years.

  • According to Reuters, Petra Diamonds invited merger and acquisition proposals on Monday, with CEO Richard Duffy saying the industry would benefit from consolidation.

    "We have got opportunities to grow organically but given that we are through this restructuring and we have a much more robust balance sheet, we would be willing to consider consolidation if it makes value sense," Duffy told Reuters in an interview on the sidelines of the Investing in African Mining Indaba in Cape Town.

  • The Chinese conglomerate Fosun, best known as being the largest shareholder of insurer Ageas, is considering selling its majority stake in International Gemological Institute (IGI). The deal could value the Antwerp-based diamond evaluator at around 200 million euros, the Bloomberg news agency learned from sources close to the file.
    In October, Fosun announced that it plans to sell up to $11 billion in assets to improve its liquidity position. In addition, Fosun would now, together with Deutsche Bank, evaluate the possibility of selling its 80 percent stake in IGI.