7 November 2016
On November 7, Dominion Diamond Corporation announced that, as part of the measures taken to reduce operating costs and support the long-term strength of the Company, the Board of Directors and the Senior Leadership Team have made the decision to relocate the Company’s corporate office from Yellowknife, NWT to Calgary, Alberta.
The move is projected to be completed by the middle of calendar year 2017. The Company expects to realize savings of approximately C$19 million annually.
Dominion Diamond remains committed to continuing its ongoing operations at the Ekati mine without interruption, including the development of the Jay Project.
The relocation of the office will impact approximately 100 employees based in the Northwest Territories. Most of the Company’s workforce, including the majority of its northern Aboriginal employees, will continue to be employed in the Northwest Territories. In addition to its workforce at the Ekati mine site, Dominion Diamond will maintain an office in Yellowknife for certain key positions.
Brendan Bell, Chief Executive Officer, stated, “Although this was not an easy decision, it is necessary to support the long-term strength and viability of our operations. The Ekati mine is a pillar of the NWT economy, and this cost reduction effort will allow us to continue to provide northern employment opportunities and benefits well into the future. I can assure our northern partners that we remain committed to the people and communities of the North and will continue to set industry standards for northern and Aboriginal employment and sustainable development.”