Burgundy Diamond completes Ekati acquisition!

Jul 17, 2023

Burgundy Diamond Mines Limited has successfully completed the transaction to acquire 100 percent of Arctic Canadian Diamond Company Limited shares including its primary mining asset, the Ekati Diamond Mine in Canada’s Northwest Territories (NWT).

The successful acquisition provides Burgundy with an enviable and exciting position to continue to expand its innovative strategy and explore further growth opportunities as a world class end-to-end diamond company. With Ekati in its portfolio, Burgundy is now a fully integrated global scale diamond company that can authentically trace the full chain of custody of high quality, ethically and sustainably sourced diamonds from its mine in Canada right through directly to its customers.

Burgundy Diamond Mines’ corporate brand will extend globally, including in Canada, led by Chief Executive Officer (CEO) Kim Truter. Truter has more than 30 years of experience in both surface and underground mining operations, and large-scale project development across multiple geographies.

His previous roles included CEO of De Beers Canada, Chief Operating Officer of Rio Tinto Diamonds, Managing Director of Argyle Diamond Mines in Australia, and President and Chief Operating Officer of Diavik Diamond Mines. “Burgundy is well-positioned for growth, with significant value to be delivered to all stakeholders through our fully integrated end-to-end value chain now including the global scale Ekati asset,” said Truter.

“Burgundy investors have overwhelmingly supported and endorsed this acquisition, and they are showing great interest in producing sustainable and valuable natural diamonds via mines in Canada and bringing them to market through our innovative business model.”

“I look forward to engaging with stakeholders in the Canadian North, many of whom I have successfully partnered with previously. Local communities, Indigenous partners, and government officials remain vitally important to what we believe will be an exciting and beneficial future for all involved.”

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