Archive

  • Dominion Diamond (DD) announced positive results of a preliminary economic assessment (PEA) for the Sable kimberlite pipe deposit located within the majority-owned Ekati diamond mine area in Canada's Northwest Territories, in which the Company holds an 88.9% interest. The PEA established a post-tax net present value of US$233 million at a 7% real discount rate, and an internal rate of return of 17.3%. The company said that the study has pegged initial development capital at US$147.4 million, sustaining capital at US$20.3 million and the base case diamond price at US$190 per carat.

  • According to their press release, Dominion Diamond (Ekati & Diavik Mines, Canada), sales for the second fiscal quarter 2016 (May through July) were $209.7 million, representing a 24% decline from Q2 2015 ($277.3 million). The company said that sales were "robust... despite a cautious market and a time of seasonal weakness in demand." The H1 decline for the 2016 fiscal year thus far is 12%, from $452.8 million to $397.4 million.

    The news release is in annex below.

  • Microscopic, ugly diamonds from the Northwest Territories are illuminating how diamonds are made. A new study suggests they formed from ancient seawater trapped deep below the surface of the Earth. A group of U.S., U.K. and Canadian scientists think they have good evidence that a key component of the fluid that produced at least some kinds of diamonds was ancient seawater, trapped 200 kilometres beneath the surface of the Earth.

  • Dominion Diamond Corp.'s production in the first fiscal quarter of 2015 saw mixed results from its Ekati and Diavik diamond mines in Canada's Northwest Territories. For the quarter ended April 30, the Ekati mine had an output of 804,000 carats, an improvement over the 561,000 carats produced the previous year. This was due to higher productivity at the Koala pipes that offset the impact of "unusually extreme winter conditions" that affected surface mining activities. Meanwhile, production at Diavik decreased to 604,000 carats from 734,000 carats.