Dominion Diamond Corporation Recalculates Ownership Interests in Buffer Zone at Ekati Diamond Mine
February 01 2017 - 6:30AM
Business Wire
Dominion Diamond Corporation (TSX: DDC, NYSE: DDC) (the
“Company” or “Dominion”) announced today that its participating
interest in the Buffer Zone Joint Venture at the Ekati Diamond Mine
has increased from 65.3% to 72.0%, effective as of February 1,
2017, in accordance with the joint venture agreement relating to
the Buffer Zone.
The increase in ownership results from the decision of the
minority partner not to participate in the full fiscal year 2017
capital program for the Buffer Zone Joint Venture. The Company has
funded those elements of the program that were not funded by the
minority partner.
The Buffer Zone Joint Venture contains 106 mining leases
covering 89,184 ha, and includes the Jay and Lynx kimberlite pipes.
On July 6, 2016, the Company released the results of a positive
feasibility study on the Jay project.
The Ekati mine consists of two joint ventures, the Core Zone
Joint Venture and the Buffer Zone Joint Venture, in which the
Company has an interest of 88.9% and 72.0%, respectively. All of
the production in fiscal year 2017 was sourced from the Core
Zone.
About Dominion Diamond CorporationDominion Diamond
Corporation is the world’s third largest producer of rough diamonds
by value. Both of its production assets are located in the low
political risk environment of the Northwest Territories in Canada.
The Company is well capitalized and has a strong balance sheet.
The Company operates the Ekati Diamond Mine and also owns 40% of
the Diavik Diamond Mine. Between the two mining operations,
diamonds are currently produced from a number of separate
kimberlite pipes providing a diversity of diamond supply as well as
reduced operational risk. It supplies premium rough diamond
assortments to the global market through its sorting and selling
operations in Canada, Belgium and India.
For more information, please visit
www.ddcorp.ca
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version on businesswire.com: http://www.businesswire.com/news/home/20170201005245/en/
Dominion Diamond CorporationJacqueline Allison,
416-205-4371Vice-President, Investor
Relationsjacqueline.allison@ddcorp.ca
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