Anglo America’s De Beers has completed the C$107-million acquisition of Peregrine Diamonds, with the TSX-listed company set to be delisted at the end of trading on Friday.
The acquisition, announced in July, was approved by Peregrine securityholders on August 31 and by the Supreme Court of British Columbia on September 10.
The acquisition includes the high-quality Chidliak diamond resource located in Canada’s Nunavut Territory and other properties elsewhere in Nunavut and the Northwest Territories.
De Beers Canada CEO Kim Truter said that the diamond group was excited about the Chidliak cluster. “Having built and operated three diamond mines in Arctic-like conditions in the past 15 years, our expertise in bringing projects of this nature to fruition is unparalleled. We look forward to accelerating our understanding of this property and how we can move it forward.”