CALGARY, Alberta, July 04, 2023 (GLOBE NEWSWIRE) — Burgundy Diamond Mines Limited has successfully completed the transaction to acquire 100 percent of the shares of Arctic Canadian Diamond Company Limited, including its principal mining asset, the Ekati Diamond Mine in the Northwest Territories of Canada. The successful acquisition puts Burgundy in an enviable and exciting position to further expand its innovative strategy and explore further growth opportunities as a world-class end-to-end diamond company. With Ekati in its portfolio, Burgundy is now a fully integrated global diamond company that can authentically trace the entire chain of custody of high quality, ethically and sustainably sourced diamonds, from the mine in Canada to directly to its customers.
The Burgundy Diamond Mines corporate brand will expand globally, including in Canada, under the leadership of Chief Executive Officer (CEO) Kim Truter. Mr. Truter has more than 30 years of experience in both surface and underground mining operations and large-scale project development in multiple regions. His previous positions include CEO of De Beers Canada, Chief Operating Officer of Rio Tinto Diamonds, Managing Director of Argyle Diamond Mines in Australia, and President and Chief Operating Officer of Diavik Diamond Mines.
“Burgundy is well positioned for growth, with significant value to be delivered to all stakeholders through our fully integrated end-to-end value chain that now includes the global Ekati asset,” said Truter.
“Investors from Burgundy have overwhelmingly supported and endorsed this acquisition, and they are showing strong interest in producing sustainable and valuable natural diamonds from mines in Canada and bringing them to market through our innovative business model.”
“I look forward to engaging with stakeholders in northern Canada, many of whom I have successfully worked with before. Local communities, Indigenous partners and government officials remain vital to what we believe will be an exciting and rewarding future for all involved.”
About Burgundy Diamond Mines Limited
Burgundy Diamond Mines is a leading global independent diamond company focused on capturing end-to-end value from its unique vertically integrated business model.
Burgundy’s innovative strategy is aimed at achieving margins along the full value chain of the diamond market, including diamond mining, production, cutting and polishing, and sales. By building a balanced portfolio of the world’s best diamond projects in favorable jurisdictions, including globally ranked Canadian mining company Ekati, a world-class diamond cutting and polishing facility in Perth, and premium diamond brands including Maison Mazerea and Canadamark, Burgundy has unlocked access to the entire diamond value chain.
This end-to-end, total chain of custody business model ensures traceability every step of the way, enabling Burgundy to ensure the ethical production of the diamonds, from mining to marketing and discovery to design.
Founded in Perth, Western Australia, Burgundy is led by a world-class management team and board.
Caution with regard to forward-looking information
This document contains forward-looking statements with respect to Burgundy Diamond Mines Limited. Forward-looking statements are not statements of historical fact and actual events and results could differ materially from those described in the forward-looking statements due to a variety of risks, uncertainties and other factors. Forward-looking statements contained in this document are based on Burgundy’s beliefs, opinions and estimates as of the dates the forward-looking statements are made, and no obligation is assumed to update any forward-looking statements.
Burgundy Diamond Mines Ltd
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