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Dominion Buys Out Section of Ekati Mine
Jun 6, 2017 5:13 AM
By Rapaport News
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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. |
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Tags:
Archon Minerals Limited, Canada, Dominion, Dominion Diamond Corporation, ekati, Ekati mine, mines, mining, Rapaport News
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