GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
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
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
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
FinancialsMay 30, 2025
Movado’s Q1 Sales Slip Amid ‘Challenging’ Retail Environment The company plans to raise the prices of select watches to offset the impact of tariffs.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
Weekly QuizMay 30, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
TechnologyMay 29, 2025
GemFind Launches AI Product Description SoftwareGemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.
MajorsMay 28, 2025
Graff Unveils New Las Vegas FlagshipThe 3,300-square foot location is the jeweler's largest store in North America.
CrimeMay 28, 2025
8 Convicted in Kim Kardashian Jewelry Heist TrialAging and with myriad health issues, none will serve time for their roles in robbing the billionaire celebrity at gunpoint in 2016.
CollectionsMay 28, 2025
NY Liberty’s 2024 Championship Rings Honor Historic WinThe WNBA team received rings imbued with meaning, from leaf motifs and its Liberty torch to the number of diamonds used.
MajorsMay 28, 2025
Andrew Rickard Named JBT PresidentA longtime executive at RDI Diamonds, Rickard has served on the JBT board for the past five years.
MajorsMay 27, 2025
MJSA to Become Part of Jewelers of America The two organizations have signed an affiliation agreement that’s expected to be finalized in the coming weeks.
AuctionsMay 27, 2025
Al Capone’s Patek Philippe Pocket Watch Back Up for AuctionThe platinum and diamond watch is part of Sotheby’s upcoming Important Watches sale.
AuctionsMay 27, 2025
182-Carat Paraíba-Type Tourmaline Sells for $487K Recovered in Mozambique, “The Kat Florence Lumina” was part of Bonhams’ Hong Kong jewelry auction held last week.
TrendsMay 27, 2025
Amanda’s Style File: Candy-Colored GemstonesGet a taste of the delicious candy-like gemstones in this Amanda’s Style File.
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in BurglariesJSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ RingFrom Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.
GradingMay 23, 2025
GIA Updates Pearl Classification SystemThe lab has adjusted the scale it uses for nacre grading.
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the SpotlightSponsored by GCAL by Sarine
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO ShowDavid Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14% The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 YearsThe family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.
