IndependentsJun 15, 2026
DeBoulle Diamond & Jewelry to Renovate Dallas FlagshipThe revamped, elevated space will feature a two-story Patek Philippe atelier and a rooftop patio for parties.
SourcingJul 17, 2017
Canadian Diamond Mining Co. To Be Acquired for $1.2B
The Washington Companies has made a deal to buy Dominion Diamond Corp., which owns Ekati and 40 percent of Diavik.
A shot of the underground portion of Canada’s Ekati Diamond Mine. The mine’s owner, Dominion Diamond Corp., is set to be acquired by The Washington Companies in a deal valued at $1.2 billion. Washington lists extending the life of Ekati among its priorities. (© 2017 Dominion Diamond Corporation)
Missoula, Mont.--The Washington Companies is set to acquire Canadian diamond mining company Dominion in a deal valued at $1.2 billion.
Under the terms of the deal, Washington, a Missoula, Montana-based collection of mining, industrial and transportation businesses, will acquire all shares of Dominion Diamond Corp. for $14.25 per share in cash, a premium to the $13.50 per share Washington offered back in March when Dominion first started exploring a sale.
The agreement, which is subject to shareholder and Canadian regulatory approvals, would make the now-public mining company private.
The deal is expected to close in the fourth quarter.
Dominion Diamond Corp. operates the Ekati Diamond Mine and also owns 40 percent of the Diavik Diamond Mine; the remaining 60 percent is owned by Rio Tinto. Both mines are located in Canada’s Northwest Territories.
Dominion also has diamond sorting and selling operations in Canada, Belgium and India, and it owns the CanadaMark diamond brand, which it resurrected in 2014.
It is the world’s third largest producer of rough diamonds by value, behind De Beers and Alrosa.
Washington is a group of privately held mining, industrial and transportation companies founded by billionaire U.S. industrialist Dennis R. Washington. It includes Montana Resources, which operates a copper and molybdenum mine in Butte, Montana; railroad companies Montana Rail Link and Southern Railway of British Columbia; and Envirocon, which does environmental remediation.
The company said it will operate Dominion as a standalone business, keeping its headquarters in Canada and retaining the vast majority of Dominion employees while appointing a new CEO based in Canada for Dominion. Former CEO Brendan Bell left the company on June 30 and has not yet been replaced.
It also will continue to promote the CanadaMark diamond brand and put money into the Jay and Fox Deep projects. Jay is an undeveloped deposit at the Ekati mine while Fox Deep refers to a potential underground mine at Ekati’s mined-out Fox open pit.
Editors' Picks
Sponsored by
More on Sourcing
The Latest
WatchesJun 15, 2026
G-Shock, Coca-Cola Partner on Bottle-Inspired WatchThe special-edition piece marks the 140th anniversary of the iconic beverage brand.
TrendsJun 15, 2026
Amanda’s Style File: Tiny Charms Are TrendingHere are 13 small charms to inspire your layered looks this summer.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
AuctionsJun 12, 2026
16th-Century ‘Hogback’ Diamond Ring Going Up for Auction in LondonFound by a metal detectorist, the ring likely belonged to a wealthy, possibly royal, owner, said Noonans.
Weekly QuizJun 11, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJun 12, 2026
Chouette Designs To Launch Collection Celebrating All Types of LoveOur Pride Month Piece of the Week, the “Margaux” ring, is part of the wife-and-wife team’s new “Lovestoned” collection.
Events & AwardsJun 12, 2026
CBG Announces Plans for Phoenix ShowThe group has named the keynote speaker and announced a new pavilion for its next event, which is slated for September.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
EditorsJun 11, 2026
This Was the Best Animal Jewelry in Las Vegas From lions and hippos to snails and fish, Senior Editor Lenore Fedow wrangles her picks for cutest jewelry critters in Las Vegas.
MajorsJun 11, 2026
Former Cartier Creative Director To Head Chanel’s Jewelry Creation StudioMarie-Laure Cérède will join Chanel as the new director of its jewelry creation studio, starting in October.
Lab-GrownJun 11, 2026
Smiling Rocks’ ‘Wish Jar’ Generates 100+ Wishes in Las Vegas At the JCK show, the lab-grown diamond brand teamed up with Jewelers for Children to support Make-A-Wish India.
AuctionsJun 10, 2026
31.62-Carat ‘Azure Blue’ Diamond Sells For $8M+ at Christie’sIt was a banner day for blue gemstones, with another blue diamond topping $8 million and a 41-carat sapphire going for $2.3 million.
MajorsJun 10, 2026
Saks Global Receives Bankruptcy Court Approval for ReorganizationThe approval means the retailer is on track to exit bankruptcy proceedings this summer.
CrimeJun 10, 2026
2 Suspects Arrested in Texas Jewelry Store RobberyThe men are believed to be part of the group of several masked suspects that robbed Marc Robinson Jewelers in April.
CollectionsJun 10, 2026
Sylvie Debuts ‘Elevated’ Bridal Collection Inspired By Designer’s RingThe bridal-focused brand is also launching its Custom Atelier this summer, a digital custom design tool for its authorized retailers.
EditorsJun 09, 2026
Q&A: Al Cook on the Lab-Grown ‘Bubble,’ Dwindling Diamond Supply The De Beers Group CEO also discussed tariffs, Desert Diamonds, and the pending sale of De Beers in an interview with Michelle Graff.
MajorsJun 09, 2026
Wilkerson's Russ Whitehouse RetiresThe industry veteran is bringing his 56-year run in the fine jewelry sector to an end.
Events & AwardsJun 09, 2026
Pride Month Panel to Highlight LGBTQ+ Jewelry VoicesThe panel discussion will feature LGBTQ+ leaders across the jewelry, luxury, and creative industries.
CollectionsJun 09, 2026
Marie Lichtenberg’s New Capsule Collection Is a Smash, LiterallyInspired by a locket that got run over, the “Smash” capsule collection reimagines the shape of Lichtenberg’s signature style.
MajorsJun 09, 2026
Frederick Goldman Names Director of Sales for SoutheastThe company has promoted Katherine Whitacre to the role.
MajorsJun 08, 2026
Stuller Expands Selection of Lab-Grown Diamonds, Demi-Fine JewelryThe jewelry manufacturer has added Taylor Swift-esque diamond shapes, and more silver, gold vermeil, and gold-plated jewelry.
SourcingJun 08, 2026
Sally Morrison to Depart De Beers This Summer Morrison has been marketing diamonds on and off since the early 2000s and said she is leaving to “pursue new projects.”
TrendsJun 08, 2026
Amanda’s Style File: June’s Birthstone TrioThose born in June can celebrate with pearl, alexandrite, and moonstone jewelry.
TechnologyJun 08, 2026
Overnight Mountings Launches Ring Builder PlatformThe platform allows retailers to guide clients through a customizable engagement ring buying experience in a branded interface.
IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
