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Home > Diamond News Center > Diamond News > World

Dominion Diamond Loss Widens in Q2 Following Ekati Fire

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Panda Pit at the Ekati Diamond Mine located in the Northwest Territories, Canada
Canadian miner Dominion Diamond has reported a loss of $37.9 million for the 2nd quarter of 2017 (May through July 2016). This increases the miner’s H1 losses to $73.8 million.

Total sales dropped nearly 24% year-on-year to $160 million from $209.7 million. Revenue for the first half fell 15% compared to the first half of 2015. Dominion's poor performance comes at the heel of a fire on June 23rd that disrupted work at the Ekati mine from June to September. Following the fire, Dominion lowered its 2017 production forecast by 16%, from 5.6 million carats to 4.7 million carats. The company stated that it expects the process plant to restart around September 21 at an estimated total cost of repair of $15 million.

At the Diavik Mine, diamonds recovered during the period were 26% lower than in the same quarter last year due to lower processing volumes and lower recovered grades.
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