Ekati Mine Closes Early, Shaking NWT Economy | Calgary News

The Ekati diamond mine in the Northwest Territories is shutting down early after its owner, Burgundy Diamond Mines, failed to find a buyer and ran out of cash—marking the end of an era for Canada’s diamond mining industry. Once a cornerstone of the region’s economy, Ekati’s closure follows Diavik’s shutdown in March and leaves only Gahcho Kué, also expected to close soon. The mine supported 20% of the territory’s GDP and vital jobs for Indigenous communities. The Supreme Court of British Columbia has placed the mine’s operator, Arctic Canadian Diamond Company, into receivership, with PricewaterhouseCoopers now managing its assets and debts. Despite earlier court-ordered protection to keep operations alive, that effort failed. The receiver is now overseeing safety, environmental cleanup, and workforce reductions, though exact job impacts remain uncertain. With no finalized closure plan and rising costs, the situation underscores the need for better contingency planning. As lab-grown diamonds and trade barriers erode demand, the Northwest Territories is pivoting toward critical minerals, infrastructure, and defense to fuel its next economic chapter—smaller, more diversified projects replacing the giant mines of the past. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/a45ee6295811c74b