https://www.miningweekly.com
Mining
Mining
mining

Dominion recalls 60 workers to prepare for Ekati restart

16th November 2020

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

The Ekati diamond mine, in Northwest Territories, is being prepared for a restart, with 60 furloughed employees to be recalled with effect from early December.

Owner Dominion Diamond says it is recalling employees in anticipation of an agreement to restructure its debt and to fund the company.

An agreement with banks comprising its senior secured lenders and an ad hoc group of holders of second lien note is expected “in the near future”, the diamond mining company said on November 13.

Dominion in April filed for creditor protection and, pursuant to an order from the Companies' Creditors Arrangement Act Court, the company is protected from its creditors until December 15.

Last month, a deal to sell Ekati to an affiliate of Dominion’s parent company, The Washington Companies, for $126-million, fell apart.

Edited by Creamer Media Reporter

Comments

Showroom

SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Implats CEO Nico Muller
Implats expecting phased reduction in group output
29th February 2024 By: Martin Creamer

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.189 0.234s - 108pq - 2rq
Subscribe Now