Category: Mining

Ekati Mine Owner Seeks over $100M in Funding to Sustain Business

Burgundy Diamond Mines attributes financial troubles to challenging market, compounded by tariffs.

Udachnaya pipe will continue for an additional 16 years, until 2055.

Governments bidding for majority and minority interests, respectively.

Stones underwent cleaning and preparation to maximize their value.

Combined group will remain committed to divesting De Beers.

Miner will lay out $102.1 million on expansion of Degdekan deposit.

Miner reports loss of $11.7 million in second half.

Unfavorable weather, weak demand and transitioning production to new areas led to a deficit.

Miner also draws down $10 million on shareholder loan to fill funding shortfall for Karowe expansion.

Mining executive is retiring after almost three years at company’s helm.

The September issue looks at the spending trends, gemstones, and styles shaping retail shopping this festive season.