Canadian diamond sells for $2.8 Million

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At its September sale, Dominion Diamond Corp. sold a 186-carat gem-quality diamond for USD $2.8 million.

 

The stone, which was recovered in June, was found in the company’s Ekati mine in the Northwest Territories. It is the largest gem-quality diamond ever recovered from the mine.

 

“The Ekati mine is world-renowned for its premium gem-quality diamonds,” says CEO Brendan Bell. “We are particularly encouraged that this exceptional stone was recovered during the processing of ore mined from the early benches of the Pigeon open pit. The recovery of a gem-quality stone of this size is a reminder that there continues to be upside potential to the modeled prices used for our Ekati ore bodies.”

 

Moreover, the company has restarted operations at the plant after a June fire forced it to close.

 

“We are very pleased the process plant repairs have been substantially completed ahead of schedule and below our original cost estimate,” adds Bell. “This is a testament to the outstanding skills and determined efforts of our team at Ekati. Their contributions were instrumental in the development and implementation of our active management strategy, which is expected to help minimize the impact of the fire on production and cash flows for this fiscal year.”

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