The need for significant capital investments will be the main trend in the diamond mining industry in 2021-2030

The prospects of the diamond industry in the post-crisis period are discussed by the Rough&Polished correspondent with Sergey Mityukhin, Candidate of Geological and Mineralogical Sciences, Honored Geologist of the Russian Federation.

06 july 2020

Young Diamantaires: We create initiatives for the benefit of diamond communities worldwide

The World Federation of Diamond Bourses recently launched its Young Diamantaires website. The organization has worked for the past four years with young members of the diamond community all over the world to create a platform through which they can express...

29 june 2020

Those who implement the right anti-crisis strategies have more chances

It is not surprising that because of the pandemic and the crisis, the most heated debate in the jewellery industry is about what is happening and the possible ways of survival. Irina Slesareva, an expert, art director of the Russian Diamond Line contest...

22 june 2020

The secondary diamond market in Russia is not mature although its prospects are huge

Pavel Barannik, the founder and head of the Moscow Gemological Laboratory, the founder of the Gemological Institute and President of the Moscow Diamond Club, graduated from the Gemological Institute of America (GIA). He is an expert and consultant...

15 june 2020

Johan Erikson: The industry needs to spend more on advertising and marketing

First Element is a fully independent Diamond Services Company registered in Belgium, Botswana, South Africa and Dubai. First Element is committed to providing a world class diamond service aimed at adding value to the entire supply chain, from the daily...

08 june 2020

Ekati mine expects to return to full operations in Q4 2020

29 june 2020
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Main camp at the Ekati Diamond Mine                                                          Image credit: Dominion Diamond Mines

The Ekati Mine is set to resume full operations in the fourth quarter of 2020, as informed on 26 June by the major Canadian miner Dominion Diamond Mines to its employees.
Incidentally, Ekati was shut down in mid-March on health and safety grounds as the Covid-19 pandemic reached the territory. The two other active diamond mines, Diavik and Gahcho Kué, have continued to operate.
Pat Merrin, Dominion’s interim chief executive, said the financially troubled company expects its assets to be sold to its parent, The Washington Companies or a higher bidder, sometime between August and October this year. So far, Washington has made the only firm bid. 
“The sales process does not need to be completed for us to reopen the Ekati mine,” Merrin reportedly told staff, adding that a phased approach to reopening would be taken and restarting Ekati depended on three main factors: the ongoing process of selling Dominion, resumption of the global diamond market, and pandemic-related health and safety. “We anticipate returning to full operations in the fourth quarter of this year,” he predicted. 
About 400 furloughed employees were initially told to expect a return to work at Ekati in August, but this timeline had been pushed back.
According to the mining company, as reopening Ekati in the northern winter would be challenging, it is expected to reopen before the cold fully sets in. However, some employees may be permanently laid off due to the current fluid and dynamic situation, which makes it difficult to predict the future.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished