Ekati mine staff will return to work in full at the end of February

Dominion Diamond Mines, which completed the sale of the Ekati Diamond Mine on Wednesday, said that the mine staff will return to work in full by the end of February.
The Ekati Diamond Mine and associated assets, with the exception of Dominion Diamond Mines' share in the joint venture agreement and liabilities relating to the Diavik Diamond Mine, have been sold to Arctic Canadian Diamond, CBC News reported.
Arctic Canadian Diamond has been formed and is controlled by DDJ Capital Management, Brigade Capital Management, LP and Western Asset Management Company, LLC. According to a press release distributed by Dominion Diamond Mines, Arctic Canadian Diamond has assumed Dominion's outstanding debt of $ 70 million "under its existing revolving credit agreement and the reclamation obligations of the Ekati mine."
“This transaction significantly reduces our debt obligations, and provides sufficient liquidity to fund our operations, invest in future growth and allow the Company to emerge with a materially stronger balance sheet,” said Dominion CFO Kristal Kaye.
Operations at Ekati were suspended last March due to the coronavirus pandemic. Last November, Dominion initiated a 10-week phased restart of Ekati and production fully recovered last month, but with a reduced workforce. Now all Ekati employees are expected to be back to work no later than February 25th.

Vladimir Malakhov, Rough&Polished