Dominion Diamond Corporation (formerly Harry Winston Diamond Corporation) completes acquisition of the Ekati Diamond Mine

Date Closed: 4/10/13

Value: US$500 million 

On April 10, 2013, BHP Billiton sold the EKATI Diamond Mine in the Northwest Territories, and its related marketing business in Antwerp, to Dominion Diamond Corporation (formerly Harry Winston Diamond Corporation) for aggregate cash consideration of US$500 million.  EKATI is located 310 kilometres northeast of Yellowknife and 200 kilometres south of the Arctic Circle.  It was Canada's first diamond mine.  BHP Billiton's interest in EKATI consisted of an 80 per cent interest in the Core Zone joint venture, comprising existing operations and a 58.8 per cent interest in the Buffer Zone joint venture, which is focused on exploration opportunities.

Dominion Diamond's transaction team was led internally by Lyle Hepburn, and it was represented by BLG with a team that included Mark Wheeler, Paul Mingay, Andrew Powers and Eric Boehm (M&A) and Adam Chamberlain (Environmental).