FinancialsMar 10, 2026
Signet Jewelers’ Q4 Sales Fall Flat The jewelry giant released preliminary results for the fourth quarter and full year on Monday, with final results slated to come next week.
SourcingSep 28, 2020
Dominion Diamond Finds Buyer, Asks for Creditor Protection
The Washington Companies, affiliates of the company that currently owns Dominion, were the only bidders for the mining company.
The main camp at the Ekati Diamond Mine in Canada’s Northwest Territories is seen here in this file photo. A buyer has come forward for the mine’s troubled owner, Dominion Diamond Mines.
Calgary, Alberta—The company that operates the Ekati Diamond Mine has found a new-yet-familiar buyer and is asking for some more “breathing room” when it comes to repaying its debts.
After filing for insolvency protection in April, Dominion Diamond Mines ULC announced Sept. 16 it had struck a deal with Canadian Diamond Holdings LP and CA Canadian Diamond Mines UL, affiliates of current owner The Washington Companies.
The two subsidiaries have agreed to purchase it for $126 million, with $20 million made available to pre-filing trade suppliers.
Not included in the deal is Dominion’s share in the nearby Diavik Diamond Mine. Dominion is a 40 percent joint venture partner in Diavik, which Rio Tinto operates.
Both mines are located in Canada’s Northwest Territories, less than 200 miles from the Arctic Circle.
Canadian Diamond Holdings and CA Canadian Diamond Mines were the stalking-horse, and only, bidders for Dominion.
If completed, the deal will see the companies assume all of Dominion’s Ekati-related operating liabilities, including offering employment to most of the company’s employees.
The Ekati Diamond Mine has been on care and maintenance since mid-March, when Dominion said it was shutting it down due to COVID-19-related concerns, leaving hundreds out of work.
The mining company has not given an exact date on when production at Ekati will restart, though it has sold some diamonds through its Antwerp office, recent court filings show.
According to a report filed Sept. 23 by FTI Consulting Canada Inc., the monitor overseeing the company’s restructuring, Dominion netted $46 million from diamond sales earlier this month and was expected to bank $8 million more last week.
“However, it is uncertain how sustainable the gradual reopening will be,” FTI noted in the filing, adding that Dominion may consider selling more diamonds “should the economics be considered favorable.”
The company will use the net revenue from these diamond sales to pay back some of the money it has drawn under an interim financing facility.
Dominion’s sale to the two subsidiaries of The Washington Companies, which is subject to a number of conditions, is expected to close Nov. 7.
In the meantime, Dominion has asked for another extension of creditor protection, an injunction that prevents creditors from coming after the company for debts owed.
Originally set to expire May 2, the court extended the protection period to Sept. 28. Dominion is asking for a second extension to Nov. 7, the expected closing date of the sale.
Dominion Chief Financial Officer Kristal Kaye noted in a Sept. 18 affidavit that the extension would give the companies the “necessary breathing room … as they continue to work toward their restructuring objectives.”
More on Sourcing
The Latest
MajorsMar 10, 2026
Saks Global to Close 15 More StoresThe retailer also gave an update on its vendor partnerships.
TrendsMar 10, 2026
Messika Names Julianne Moore as AmbassadorThe award-winning actress is the “epitome of modern allure,” the brand said.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 10, 2026
Gemstones ‘Bloom’ in Sorellina’s New CollectionThe “Bloom” collection draws from the flower power movement of the 1960s and ‘70s with inlay pendants offered in eight colorways.
Weekly QuizMar 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsMar 10, 2026
Diamond-Studded Painting Shines at RJO Foundation AuctionThe unique piece was one of the custom works offered at the foundation's recent silent art auction, which garnered nearly $15,000 in total.
TrendsMar 09, 2026
Jake Gyllenhaal Is Bulgari’s Latest AmbassadorBulgari named Gyllenhaal as its brand ambassador for his embodiment of artistic depth, intellectual curiosity, and warmth.
Brought to you by
DCA Enters a New Chapter in Jewelry EducationWith refreshed branding, a new website, updated courses, and a pathway for growth, DCA is dedicated to supporting retail staff development.
Events & AwardsMar 09, 2026
TJS Announces 2026 Scholarship WinnersAwards were given to four students, one apprentice, and an emerging jeweler.
AuctionsMar 09, 2026
Joanna Carson’s Jewels Lead White-Glove SaleThe top jewelry lot of the late model’s estate sale, hosted by John Moran Auctioneers, was an Oscar Heyman & Brothers for Cartier necklace.
GradingMar 06, 2026
Tom Moses Leaving GIA After Nearly 50 YearsMoses, who started at GIA’s Santa Monica lab in 1976, will leave the Gemological Institute of America in May.
Lab-GrownMar 06, 2026
Charles & Colvard Files for Bankruptcy, Citing Price PressuresIncreased competition, falling lab-grown diamond and moissanite prices, and the rising cost of gold took a toll on the moissanite maker.
CollectionsMar 06, 2026
Zome’s ‘Solara’ Earrings Embody Celestial BeautyThe earrings, our Piece of the Week, feature pink tourmalines as planets orbiting around an aquamarine center set in 18-karat rose gold.
MajorsMar 06, 2026
Pomellato’s 2026 IWD Campaign Spotlights Economic Abuse“The Price of Freedom” campaign video for International Women’s Day confronts the quiet violence of financial control.
Policies & IssuesMar 05, 2026
Tariffs to Increase to 15% This Week, Treasury Secretary Says Also, a federal judge has ordered that companies that paid tariffs implemented under the IEEPA are entitled to refunds.
CollectionsMar 05, 2026
Common Era Honors ‘Difficult Women’ in CollectionThe ever-growing collection, which just expanded with the addition of Olga of Kyiv, features cameos of 12 women from history.
TrendsMar 05, 2026
Engagement Ring Trends 2026: What’s In, and WhyWe asked a jewelry historian, designer, bridal director, and wedding expert what’s trending in engagement rings. Here’s what they said.
Events & AwardsMar 05, 2026
AGS Announces Conclave 2026 Speaker LineupThe annual event will be held in Orlando, Florida, from Sept. 14-17.
TrendsMar 05, 2026
Caitríona Balfe Fronts Only Natural Diamonds CoverThe “Outlander” star modeled for the digital cover of the magazine’s spring issue, which features a story on her relationship with jewelry.
MajorsMar 05, 2026
Registration Opens for CIBJO Centenary CongressThis year’s annual congress, which will mark the confederation’s 100th anniversary, will take place this fall in Italy.
MajorsMar 04, 2026
Michael M Opens First StoreBeverly Hills was chosen as the location for the brand’s first store, designed as a “private residence for modern monarchs.”
Policies & IssuesMar 04, 2026
Luxury Brands Temporarily Shutter Middle East StoresKering, Apple, and other retailers have reportedly temporarily closed stores in the Middle East region in light of the recent conflicts.
EditorsMar 04, 2026
Q&A: Brilliant Earth’s CEO on the New Beverly Hills StoreBeth Gerstein discusses the vibe of the new store, what customers want when fine jewelry shopping today, and the details of “Date Night.”
Events & AwardsMar 04, 2026
JIS Miami Spring Show to Feature New Gifts Pavilion, Pop-Up Trends TalksNearly half of buyers are prioritizing silver and fashion collections this season, organizers said.
TrendsMar 04, 2026
Spinelli Kilcollin Rides Free In Year of the Horse CampaignThe “Live Now. Polish Later.” campaign features equestrians wearing the brand’s jewels while galloping across the icy plains of Kazakhstan.
MajorsMar 04, 2026
LeachGarner Names New Brand DirectorThe precious metals provider has promoted Jennifer Ashworth to the role.
Events & AwardsMar 03, 2026
Johnny Nelson Wins David Yurman Gem Awards GrantNelson will be honored as the inaugural grant winner at the Gem Awards gala on March 13.
