GJ Town India

    Attempted to obtain external funding up to CAD 150 million   The Company has applied for funding to the Canada Enterprise Emergency Funding Corporation (CEEFC) under its Large Enterprise Tariff Loan Scheme. The Company has been advised that it has been approved as eligible for such funding of up to CAD 150 million and is now undergoing a due diligence process with CEEFC. That process is expected to conclude in a matter of weeks.    External funding, whether from the CEEFC or via a combination of other sources, is necessary to ensure the continued financial viability of the Company and the operations at the Ekati mine, which, as previously announced, has been the subject of ongoing challenging market conditions.    A further drop in rough diamond prices can be directly attributed to the imposition of the US tariffs applicable to the global diamond trade in particular the 50% tariff on imports from India, which accounts for over 90% of g...

Ekati reached a historic 100 million carat diamond produced   Burgundy Diamond announces that the Ekati Diamond Mine has reached a historic milestone of 100 million carats produced. As Ekati currently celebrates 26 years of production, this impressive achievement is a reminder of the quality of this long-life asset and everyone’s efforts, hard work, and dedication over the past two and a half decades.   Ekati has an impressive history as Canada’s first diamond mine and continues to rank in the top 10 producers world-wide, renowned for its high-quality, ethically sourced diamonds. Running a 24/7 365 days a year operation in a remote subArctic  location, takes ingenuity, grit, and resilience, which is a testament to the strength of our people.   “As we reflect on this historic achievement, Ekati continues the legacy as one of the premier diamond assets in the world in a tier one location producing highly sought after sustainably and ethically produced dia...