Ekati Expansion Captures the Attention of Burgundy Eyes

Burgundy Eyes sees potential growth opportunities in Ekati Diamond mine expansion plans. Navigating prospects in the evolving diamond industry landscape
Ekati Expansion Captures the Attention of Burgundy Eyes

Burgundy Diamond Mines has unveiled expansion plans for its Ekati mine in Canada, potentially extending production until 2040. The proposal involves expanding the underground section of the Misery pit, transitioning to underground mining at the Sable pit, and bringing the Fox section underground, along with processing an existing low-grade ore stockpile in that vicinity. Additionally, the company aims to optimize the Point Lake project and explore underwater remote mining if trials prove successful. Despite the mine's initial lifespan slated to end in 2028, Burgundy believes Ekati still harbors one of the largest undeveloped diamond resources globally. The recent surge in rough sales, totaling $170 million between October 1 to December 21, underscores Ekati's robust performance since Burgundy's acquisition in March.

Managing director Kim Truter highlighted the asset's strength, noting that all available rough-diamond inventory was sold in the fourth quarter, except for special stones earmarked for specific auctions throughout the year.

Diamond World