Dominion loss widens

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A fire at the Ekati min in Canada has resulted in plant closure and an estimated $15 million in repaires, nearly doubling Dominion Diamond Corporation’s loss in its fiscal second quarter.

Net loss attributable to shareholders widened 82 per cent to $32.9 million in the three months that ended July 31, the miner reported. Diamond sales fell 24 per cent to $160 million.

The process plant at Ekati was closed following the incident. Operations are to resume September 21.

A $6.4 million decline in the value of inventory attributed to the loss. An adverse impact of foreign exchange resulted in $8.8 million for income-tax expenses.

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