Canada: Ekati Mine Set to Produce 4 Million Carats this year

The once troubled Ekati mine in Canada has new owners, and they predict the mine will produce no less than four million carats this year, IDEX Online reports.

In February, a group of creditors “rescued” the mine from Dominion Diamonds, taking on $70 million of outstanding debt and pledging $85 million of working capital facility for the mine in Northwest Territories. The current expansion for the mine “extends to 2028 and includes open pit mining and underground mining”. In January, Ekati resumed operations after a ten-month Covid-enforced closure. 

DDJ, Brigade and Western Asset, which formed the Arctic Canadian Diamond Company to run Ekati, recently said that the company has completed its first sale and found the market to be “very strong, with high demand, and better than anticipated pricing”.

The post Canada: Ekati Mine Set to Produce 4 Million Carats this year appeared first on Israeli Diamond.