Diavik and First Nation sign closure agreement as diamond mine winds down

 

The Tłı̨chǫ government and Diavik diamond mine have signed a formal closure agreement as the Northwest Territories operation prepares to end commercial production in March.

The agreement was signed on February 26 at a public ceremony at the Cultural Centre in Behchokǫ̀, attended by Tłı̨chǫ citizens, Elders, community members and staff. The event included opening and closing prayers, a community feast and a drum dance.

Diavik and the Tłı̨chǫ government first entered into a partnership agreement in 2000, recognising the importance of Tłı̨chǫ participation across all stages of the project. Over the life of the mine, that partnership has included commitments to employment, training, contracting and community investment.

Tłı̨chǫ citizens gained work experience and developed trades and technical skills during construction and operations, while Tłı̨chǫ businesses expanded capacity through contracting opportunities. Elders and community members also contributed Traditional Knowledge and feedback during construction, operations, closure planning and remediation activities.

With Diavik transitioning into closure following more than two decades of production, the new agreement outlines commitments to safe and responsible reclamation and long-term stewardship of Tłı̨chǫ lands. It includes funding for socioeconomic mitigation measures to support Tłı̨chǫ-led initiatives during the closure phase, as well as continued commitments to employment, training and business opportunities.

“Our partnership with the Tłı̨chǫ government has been foundational to Diavik’s success,” said Diavik COO Matthew Breen.

“We are proud to continue to strengthen those bonds as we move into closure, working together towards a positive future for Tłı̨chǫ members and communities. We will continue to treat the people, the land and waters with respect, to allow for traditional and cultural activities on the reclaimed land, and to leave a lasting and positive legacy in the NWT.”

Source: DCLA

Burgundy Sales “Bode Well for Recovering Diamond Market”

Burgundy Diamond Mines reported an increase in prices but a dip in revenue from its Ekati mine, in Canada, during Q4.

Sales held in October and December raised $47m and $46m respectively (total $93m) the Australia-based company said today (17 December) in its interim sales report and company update. Average prices per carat were $80 and $106 (all figures US dollars).

Total proceeds for the previous quarter, Q3, were $118m, with average prices down to $83 per carat in what it described at the time as a “soft diamond market”.

Kim Truter, Burgundy’s CEO, said the results “bode well for a recovering diamond market”.

He said prices at the December sale reflected a higher quality parcel of goods sold, and said there had been gains in the mid to large size categories, relative to the October sale.

Burgundy bought the Ekati mine, 125 miles south of the Arctic Circle, in Northwest Territories, last June for $136m from the Arctic Canadian Diamond Company and plans to extend its life by developing underground operations.

“The company looks forward to reporting the results of its mine life extension work at the Sable underground project and the Misery underground operation, in addition to an updated Fox underground prefeasibility study, commencing in Q1-2025,” Burgundy said.

Source: DCLA

Lucara unveils diamond recoveries from Botswana mine

Lucara Diamond Corp. has announced the recovery of a 320-carat, 111-carat, and two +50-carat stones from its 100% owned Karowe Diamond Mine located in Botswana.

These diamonds were recovered from the direct milling of EM/PK(S) kimberlite ore from the South Lobe during a recent production run that saw additional recoveries of numerous, smaller +10.8 carat diamonds of high value.

The 320-carat is a gem-quality, top light brown diamond, while the 111-carat diamond is described as a Type IIa white stone of high quality. The two +50-carat stones add to these recent recoveries and are also Type IIa white diamonds. These recoveries add to the collection of significant diamonds recovered at Karowe and further solidifies Lucara’s reputation as a leader in the recovery of large, high-quality diamonds.

The recoveries from the EM/PK(S) unit highlight the continued success of Lucara’s mining operations at the Karowe Diamond Mine and reinforce the development of the underground mine which will target >95% EM/PK(S) ore during the first three years of underground production. The company’s adoption of advanced diamond recovery technology has enabled the continued identification and retrieval of these extraordinary diamonds and strong resource performance.

William Lamb, President and CEO of Lucara Diamond Corp., commented on the recent discoveries, stating:

“These diamond recoveries from the EM/PK(S) domain of the South Lobe further validate the quality and potential of the Karowe Diamond Mine. We are thrilled with the consistent success we continue to achieve in uncovering large, high-value diamonds, reaffirming Lucara’s position as a leading producer of large high-quality gem diamonds. Our team’s dedication to innovation and operational excellence continues to drive our success, and we look forward to delivering further value to our stakeholders through these extraordinary discoveries.”

Source: DCLA