SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
SourcingOct 15, 2020
Ekati Deal Falls Apart, Leaving Workers To Wonder What’s Next
The future of the diamond mine is in question as owner Dominion Diamond scrambles to try to put together a new deal.
An aerial shot of the Ekati Diamond Mine in Canada’s Northwest Territories. A deal to sell the mine to two affiliates of its current owner, The Washington Companies, has fallen through, leaving the mine’s future in question. (©2017 Dominion Diamond Mines)
Calgary, Alberta—The proposed sale that could have saved Dominion and its Ekati Diamond Mine has fallen apart, leaving hundreds of employees to wonder if they’ll ever get back to work.
Dominion Diamond Mines ULC announced via press release Friday that its insurers, Aviva Insurance Company of Canada, Argonaut Insurance Company and Zurich Insurance Company Ltd., could not come to an agreement with the two companies angling to buy the mine, Canadian Diamond Holdings L.P. and CA Canadian Diamond Mines ULC.
Canadian Diamond Holdings and CA Canadian Diamond Mines are affiliates of Dominion’s current owner, The Washington Companies, and submitted the only bid only bid to buy the company, which filed for insolvency protection in April.
The impasse means the deal is effectively dead and Dominion will have to try to find another way to restart operations at the mine.
“Management is working with our financial and legal advisors to determine the best path forward given this sudden change,” a Dominion spokesperson told National Jeweler via email on Wednesday.
“Our top priority is to restart the mine and recall our furloughed workers—that is our primary focus at this time.”
Ekati has been on care and maintenance since March, a decision the company attributed to COVID-19. The company filed for insolvency protectionthe following month.
The Dominion spokesperson did not supply a number when asked how many workers have been laid off as a result of the mine shutdown, but the Union of Northern Workers (UNW) said Ekati employed 396 members of Local 3050 before it was mothballed. (This figure does not include non-union workers or contractors.)
Only about 40 union members are working there now, doing care and maintenance.
UNW issued a statement of its own Tuesday, claiming details of the failed sale were communicated via the press release distributed country-wide on Friday before management or the union had the chance to tell workers.
The union decried the uncertainty and lack of transparency it says have been a constant throughout the sale process and that have taken a “financial and emotional toll” on its members, who depend on the mine to support their families and communities.
UNW President Todd Parsons said there doesn’t seem to be any accountability on the part of the corporations to act in the best interests of its workers.
“The pandemic has had a devastating impact on many sectors and it’s very frustrating, as
Editors' Picks
Sponsored by
a union, to have to sit on the sidelines and watch billion-dollar corporations play monopoly with people’s lives,” he said.
Following news that the sale had fallen through, interim Dominion CEO Pat Merrin, who is chief operating officer of The Washington Companies, stepped down, Dominion confirmed.
Chief Financial Officer Kristal Kaye and Chief Operating Officer Mike Welch are heading the company, with support from independent Chairman Brendan Bell.
Dominion will remain in creditor protection until Nov. 7, barring an extension.
More on Sourcing
The Latest
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
Weekly QuizAug 20, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
MajorsAug 20, 2026
Plumb Club Elects 2026-2027 BoardSteven Lerche is now beginning his term as the youngest member to become president of The Plumb Club’s elected executive committee.
MajorsAug 19, 2026
Mike Alexander To Succeed Scott Murphy as Jewelers Mutual CEO Murphy will retire at the end of the year and Alexander, currently the company’s president, will take over at the start of 2027.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
