Effective Feb. 1, Dominion Diamond Corp. increased its interest in the Buffer Zone joint venture at the Ekati diamond mine from 65.3% to 72.0%, in accordance with the joint venture agreement.
The increase in ownership resulted from the decision of the undisclosed minority partner not to participate in the full fiscal 2017 capital program for the Buffer Zone. Dominion funded those elements of the program that were not funded by the minority partner.
The Buffer Zone contains 106 mining leases covering 89,184 hectares, and includes the Jay and Lynx kimberlite pipes.
The Ekati mine is located in Canada's Northwest Territories and consists of the Core Zone and Buffer Zone joint ventures, in which Dominion holds interests of 88.9% and 72.0%, respectively.
All of the production in fiscal 2017 was sourced from the Core Zone.