Burgundy Diamond Mines Ltd. is paying US$136 million to assume control of the Ekati complex from Arctic Canadian Diamond Co Ltd. Read more.
Under the deal, Burgundy would send US$21 million worth of its shares to Arctic Canadian, and take on US$100 million in debt. In addition, Burgundy would pay $15 million cash to Arctic Canadian in December 2023.
The value of the mine has fluctuated wildly throughout the years. In 2017, Dominion purchased Ekati for US$1.2 billion along with other assets. Before that, in 2013, the previous owner purchased it from what is now called BHP Mining Co. for US$553 million.Article content Not counting last year’s US$494 million in revenue, the Ekati complex had been plagued by operational issues in recent years.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australian company to buy Arctic Canadian Diamond Company's assetsAn Australian company is set to buy all of Arctic Canadian Diamond Company Ltd.'s assets, including the Ekati diamond mine in the Northwest Territories.
Read more »
Australian company to buy Arctic Canadian Diamond Company's assetsYELLOWKNIFE — An Australian company is set to buy all of Arctic Canadian Diamond Company Ltd.’s assets, including the Ekati diamond mine in the Northwest…
Read more »
Australia's Burgundy purchases one of N.W.T.'s 3 diamond mines, giving new life to the troubled Ekati complexBurgundy Diamond Mines Ltd. is paying US$136 million to assume control of the Ekati complex from Arctic Canadian Diamond Co Ltd. Read more.
Read more »
Australia's Burgundy purchases one of N.W.T.'s 3 diamond mines, giving new life to the troubled Ekati complexBurgundy Diamond Mines Ltd. is paying US$136 million to assume control of the Ekati complex from Arctic Canadian Diamond Co Ltd. Read more.
Read more »
Haiti claims delayed Canadian armoured vehicles hinder plan to control gangsHaiti\u0027s troubled government is accusing Canada of stalling in its promised delivery of armoured vehicles.
Read more »
Haiti claims delayed Canadian armoured vehicles hinder plan to control gangsHaiti\u0027s troubled government is accusing Canada of stalling in its promised delivery of armoured vehicles.
Read more »