Dominion Diamond Corp. is moving its head office to Calgary from Yellowknife, NYT, as part of a cost-cutting move. The relocation is expected to result in savings of a little over US$14 million (C$19 million) annually. The move is projected to be completed by the middle of calendar year 2017. Operations at the Ekati mine will continue uninterrupted, and development of the Jay deposit, about 25 kilometres from Ekati, will also be maintained, the company said.
Dominion Diamond Corporation reports the restart of the Ekati process plant and the sale of an exceptional diamond recovered at the Ekati diamond mine earlier this year. The Ekati process plant resumed operations at full capacity on September 21. Plant operations had been suspended since a fire that occurred at the Ekati process plant on June 23. During this time, the company worked to lessen the impact of the fire on production and cash flow for the current fiscal year.
With the diamond industry - Canada's in particular - and news media awash with the big story of the official opening of De Beers'/Mountain Province's giant new diamond mine in the NWT, Gahcho Kué (the world’s largest new diamond mine in the last 13 years which is expected to produce approximately 54 million carats of rough diamonds over its lifetime),
"Just over two decades in the making, Canada's newest diamond mine is set to officially open Tuesday (September 20) in the N.W.T. at a ceremony involving Indigenous leaders, mining and territorial officials," writes Kate Kyle for CBC News. The mine came online and starting producing diamonds last month, with its first commercial production set for the first quarter of 2017, and is estimated to be one of the 10 biggest diamond mines in the world, project to deliver 4.5 million carats annually over a 12-year life span.
Kennady Diamonds Inc. has recovered 1,278 carats of diamonds (+0.85mm) from 612 tonnes for a sample grade of 2.09 carats per tonne from its large diameter drilling program focused on the north limb of the Kelvin kimberlite. The miner said the result is very similar to the 2015 bulk sample grade of 2.02 carats per tonne from the south limb. Kennady Diamonds owns 100 percent of the Kennady North diamond project located in Canada's Northwest Territories immediately adjacent to the Gahcho Kué diamond mine currently being operated by De Beers and Mountain Province Diamonds.
With the grand opening of the Gahcho Kue mine, the largest new mine to come on line in recent years, set for Tuesday, a union representing culinary and janitorial workers say they are considering a strike which the union leader says could shut down the camp. The threat of industrial action follows stalled negotiations with the contractor employing them, according to a report by CBC Canada. The mine is co-owned by De Beers Canada (51%) and Mountain Province Diamonds (49%) and began mining its first diamonds last month.
Mountain Province Diamonds Inc. reports that construction of the Gahcho Kué diamond mine was completed during the quarter, the first ore was introduced to the diamond plant on June 20, with the first commissioning diamonds recovered on June 30 and the ramp up to commercial production is underway with the mine is on track to achieve commercial production in January 2017. During the quarter ended June 30, the company entered into agreements with third parties for the valuation, sorting and marketing of its share of the diamond production from the mine.
Anglo American has announced the commissioning of De Beers' (51%) and Mountain Province Diamonds' (49%) Gahcho Kué diamond mine in the Northwest Territories of Canada. Gahcho Kué - the world's largest new diamond mine - is expected to reach full commercial production in Q1 2017, producing an average of 4.5 million carats per year over its anticipated 13-year life.
Diamond industry analyst Paul Zimnisky believes it is very unlikely that De Beers Canada will be able to find a buyer for its Snap Lake mine before the company floods it later this year. He said the main reasons were groundwater problems, lower diamond prices and a reduced number of diamond producers. "I don't see somebody buying it and turning it back on and producing at current prices," he told Canada's CBCNews. According to his data, rough diamond prices are only up about five percent since De Beers ended production at the mine last December.
Rio Tinto Diamonds is to provide an audited mine-to-polished chain of custody for stones from its Argyle mine this month, while a Canadian Diamonds program covering its 60% share of production from the Diavik mine in the North West Territories will start later this year, writes Rob Bates in JCK Online. The programs have two aims, said Bruno Sané, Rio Tinto Diamonds’ general manager of marketing. For the trade, it guarantees the diamonds are not lab grown: “The screening technology today is less reliable with small and brown diamonds. The browns are usually rejected as type IIs.
According to various news sources, Anglo American Plc’s De Beers has put its Snap Lake diamond mine in Canada up for sale after suspending operations at the unprofitable mine last December. Just recently the Canadian division of De Beers got approval to flood the mine tunnels, as part of a plan to reduce maintenance costs. The flooding has not yet happened but planning work continues. “Before we get into that actual flooding of the mine ...
De Beers officially opened its new Canadian headquarters in Calgary on Wednesday after relocating from Toronto as it prepares to open what it calls the biggest diamond mine under construction in the world, writes the Winnepeg Free Press. Kim Truter, the CEO of De Beers Canada, said the company weighed where it was best to locate its office with two mines north of Yellowknife, one in Ontario and exploration activities across the country. "We looked at a lot of options because we had to look at our centre of gravity in relation to where our operations were," said Truter.
As reported last February, De Beers Canada has been planning to flood the underground workings of its shuttered Snap Lake diamond mine in the Northwest Territories, 220 kilometres northeast of Yellowknife.
In an interview with Rapaport, Canadian diamond miner Mountain Province’s CEO Patrick Evans states that the company believes production at Gahcho Kué, is expected to start up in July and reach full capacity in eight months. The company hopes to plan a first sale in Antwerp, as early as September, via open tender handled by Antwerp tendering partner Bonas.
Mountain Province Diamonds Inc. reports that based on progress to date, its Gahcho Kué mine should start production during the third quarter of this year. Mechanical completion of the primary crusher and commissioning of the process plant continues to progress well, and the exact time for the start of production will depend on progress with the remaining commissioning, the company said in a statement.
Dominion Diamond Corporation reported a loss of $1.0 million for its first fiscal quarter of 2017 (February through April 2016) compared with a profit of $12 million in the year-earlier quarter. Both measures were impacted by a lower value product mix at Ekati prior to the initial sale of diamonds recovered from Misery Main later in the fiscal year. Inventory impairment, or reduced value of the stock, in the amount of $19.6 million was recorded on available for sale inventory at the Ekati mine.
The Minister of Lands of the Government of the Northwest Territories (GNWT) has accepted the recommendations of the Mackenzie Valley Environmental Impact Review Board (MVEIRB), that Dominion Diamond's Jay Project be approved, subject to the measures described in the Report of Environmental Assessment. At issue were the potential environmental impacts of Dominion Diamond’s proposed expansion of the Ekati diamond mine in Yellowknife, in Canada's NWT.
Rio Tinto has announced that its Diavik Diamond Mine in Canada has produced 100 million carats of rough diamonds since it opened in 2003, reports JCK. The mine is a joint venture between Rio Tinto (60%) and Dominion Diamond Corp. (40%), but is operated wholly by Rio Tinto. The Diavik Diamond Mine is Canada’s largest diamond mine in terms of carat production.
Mountain Province Diamonds Inc. said that development of the Gahcho Kué diamond mine in Canada is progressing according to plan with the overall project approximately 94 percent complete and on track for first production during the second half of this year. Mountain Province President and CEO Patrick Evans commented: “Mechanical completion has been achieved at the process plant and truck shop and we are on schedule to achieve mechanical completion of the primary crusher during the current quarter.
Diamond exploration and development company Peregrine Diamonds Ltd. has announced a maiden Inferred Mineral Resource estimate of 4.23 million carats of diamonds for the CH-7 kimberlite pipe at the company's 100 percent owned Chidliak Diamond Project, Nunavut, Canada, with an overall average grade of 0.85 carats per ton. This brings the combined Inferred Mineral Resource for the CH-6 and CH-7 kimberlites of Chidliak to 15.62 million carats, again raising its resource estimate by 37% over its prior analysis.
Dominion Diamond Corp recorded a loss of $15 million for the past fiscal year, compared with a profit of $219 million in the 2014-2015 year. The company owns most of the Ekati mine and 40% of the Diavik operation in the Northwest Territories (NWT). "[The year] was a transitional year for Ekati and the fourth quarter was the weakest, with a high volume of lower-valued carats produced and a five-per-cent fall in diamond prices," said Ron Cameron, Dominion's chief financial officer, during a conference call reported by CBC.
Dominion Diamond Corp said that Robert Gannicott has retired as Chairman, with Jim Gowans appointed as non-executive Chairman of the Board of Directors with immediate effect. Gannicott will remain as a director of the company. Gowans was appointed to the Board of Directors on January 13. He has extensive operational experience in many aspects of the mining industry, including exploration, major projects, operations and human resources as well as extensive leadership experience both in Canada and internationally. Gannicott headed the firm for 12 years.
Kennady Diamonds Inc. says it has discovered a third kimberlite body at the high-grade Faraday kimberlite cluster following exploration drilling at the Kennady North project. Kennady Diamonds President and CEO, Patrick Evans, commented: “Faraday 3 is the fourth kimberlite body that we have discovered at Kennady North over the past three years.
Mountain Province Diamonds Inc. reports that the Gahcho Kué diamond mine is progressing according to plan with the overall project more than 87% complete and on track for first production during the second half of this year. Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is a cluster of four diamondiferous kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes grading 1.57 carats per tonne for total diamond content of 55.5 million carats.
Dominion Diamond Corp's full fiscal year diamond sales plunged to $720.6 million from $915.7 million in the year-earlier period, a decline of more than 21%. For its fourth quarter, sales were $178.1 million, a sharp decrease from the $240.6 million figure for the year-before quarter. The miner plans to produce 5.5 million carats from the processing of 3.9 million tons of ore at the Ekati mine during the fiscal 2017 year, and announced that production at Ekati during the fourth quarter of 2015 increased by 42 percent.
"Dominion Diamond, the world’s third-largest rough producer by value, will forge ahead with plans to open up a new mine in Canada’s Northwest Territories, after positive results from a pre-feasibility study," writes mining.com. This is the takeaway from Dominion's February 22 announcement of positive results from a pre-feasibility study of the Sable kimberlite pipe deposit located within the Core Zone Joint Venture property in Canada’s NWT in which the company holds an 88.9% interest.
Kennady Diamonds Inc. has announced the final 2015 diamond recovery results from the Faraday 2 kimberlite at the company’s 100 percent-controlled Kennady North project. A total of 6.4 tonnes of kimberlite was recovered by core drilling at Faraday 2 and a total "commercial" sample grade of 3.04 carats per tone was returned. Kennady Diamonds’ exploration focus is on the 100 percent controlled Kennady North project, located immediately adjacent to the De Beers/Mountain Province Diamonds Gahcho Kué diamond mine in Canada’s Northwest Territories.
The Mackenzie Valley Environmental Impact Review Board (“MVEIRB”) has completed its Report of Environmental Assessment for Dominion Diamond's Jay Project in the Northwest Territories and has recommended that it be approved, subject to the measures described in the Report. The Jay Project is an expansion of the Ekati Diamond Mine. The Report has been sent to the Minister of Lands, the Honourable Robert C. McLeod.
Arctic Star Exploration’s Redemption Diamond Project stands to gain from a royalty sale by Canadian diamond exploration company North Arrow Minerals. With an option to earn 55% of the project, North Arrow has signed a deal with Umgeni Holdings International to sell part of its share of royalties on the property for $800,000.
Kennady Diamonds Inc. has announced diamond recovery results from the Faraday kimberlites at its Kennady North project. Kennady Diamonds President and CEO Patrick Evans commented: "We are very pleased with these exceptionally high diamond recovery results, which confirm that the Faraday kimberlites have the potential to host high grade diamond resources. The 4.48 carat per tonne sample from Faraday 2 is the highest 'commercial' sample grade recovered to date at the Kennady North project." Kennady Diamonds Inc.
CBC reports Toronto based financing firm Callidus Capital Corporation is suing Deepak Kumar, owner of Deepak International and Deepak Developments, hoping to get back the money they loaned to Kumar to buy two empty cutting and polishing plants from the Northwest Territories government. Callidus hopes to get its hands on C$15 million in rough diamonds and a shipping container that could hold C$18 million worth of diamond equipment that were put up as security for the loans by Kumar.
Reuters reports that unseasonably warm weather in Canada's Northwest Territories this year is threatening - or at least delaying the formation of - the vital, and world's busiest ice road. Ice formation has been slow on the Tibbitt to Contwoyto Winter Road, named after the first and last of hundreds of lakes on the route of a highway of ice built atop frozen lakes and tundra. The road serves as a supply lifeline to remote diamond mines, bustling with traffic for a couple of months before melting away in the spring.
Gary Vivian, President of the NWT & Nunavut Chamber of Mines, posted an open thank-you note - bereft of irony - to De Beers for their investment at Snap Lake. The timing may seem odd, as only ten days ago De Beers announced that it was putting the Snap Lake mine on care & maintenance, with more than 400 people losing their jobs as a result.
Mountain Province Diamonds issued an announcement confirming that development of the Gahcho Kué diamond mine, which is a joint project with De Beers Canada located in Canada's Northwest Territories, is progressing according to plan and on budget, with the overall project more than 80% complete and on track for first production during the second half of 2016. Mountain Province President and CEO Patrick Evans says, "We continue to make excellent progress at Gahcho Kué.
The De Beers Group has announced it has placed its Snap Lake diamond mine on care and maintenance, with mining activities to cease immediately. The decision follows a review of the mine’s operation, particularly in light of current market conditions. De Beers will evaluate market conditions over the next year to determine the potential of the ore body as a viable mine. Work to suspend production at Snap Lake has begun, and is expected to last between one to nine months.
Crystal Exploration, a Canadian mineral exploration company recently announced the closing of their diamond projects acquisition. The properties are within the highly prospective northern portion of the Slave Structural Province of the Canadian Shield, and contain the Muskox, Rush and James River diamond bearing kimberlites. Most noteworthy is the Muskox kimberlite which was previously discovered in 1996 by DeBeers Canada and explored through joint venture with Tahera Corp.
CBC News reports that De Beers Canada is unsure of the future of its Snap Lake diamond mine, given a downturn in diamond prices and a costly water problem that required a licence amendment. The Snap Lake mine, located 220 kilometres northeast of Yellowknife, was De Beers' first diamond mine outside of Africa. It opened in 2008 and was projected to have a mine-life of 20 years. Officials with De Beers told CBC on Wednesday that they're looking at many options including shutting down the mine.
Press release: "Rio Tinto has unveiled one of the largest diamonds ever discovered in Canada. The 187.7 carat gem-quality rough diamond, known as The Diavik Foxfire, was discovered at the Diavik Diamond Mine in the remote Northwest Territories of Canada, 220km south of the Arctic Circle.
In an interview with Mining Weekly Online addressing the current state of affairs and future outlook throughout the diamond industry, analyst and consultant Paul Zimnisky says he believes Canada was the best-positioned country in the industry given the quality of the current projects. “Looking at the NWT’s Ekati and Diavik mines, for instance, they are still quite profitable projects, even in a weaker price environment.
According to the report by independent, not-for-profit research firm C.D. Howe Institute, modern treaties implemented between 1991 and 2006 in rural British Columbia, the Northwest Territories and Yukon had measurable benefits for First Nations and mining companies alike. The treaties signed in Canada since the 1970s have boosted the average annual income of First Nation communities and lead to greater development of natural resources.