News

Advanced Search

Dominion Buys Out Section of Ekati Mine

Jun 6, 2017 5:13 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT...
Dominion Diamond Corporation has bought out the buffer zone of its Ekati mine from Archon Minerals Limited, its partner in the joint venture, the miner reported Monday.

The buffer zone is a section of the Ekati project containing 106 mining leases. Of the 150 kimberlite pipes discovered to date at the Canada mine, 38 are in that sub-section, Dominion explained.

Until now, Dominion owned the zone jointly with Archon. Under the deal, however, Archon will relinquish its stake in exchange for a royalty worth 2.3% of all future revenue from the diamonds the zone produces, and Dominion will own the area in its entirety. The miner also holds 88.9% of Ekati’s core zone.
Tags: Archon Minerals Limited, Canada, Dominion, Dominion Diamond Corporation, ekati, Ekati mine, mines, mining, Rapaport News
Similar Articles
Firestone 150Firestone Sees Rise in Output, Prices
Apr 25, 2018
Firestone Diamonds’ production and selling prices increased in the third quarter amid better rough-market conditions
Trans HexTrans Hex Sells Idle Mines
Apr 23, 2018
South Africa-based diamond producer Trans Hex is selling two of its Lower Orange River mines that
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.