Ekati Acquisition to Go Through After Approvals Granted, Says Dominion

Dominion Diamond Corp, formerly the Harry Winston Diamond Corp, has obtained all regulatory approvals to acquire BHP Billiton's Ekati diamond operations in Canada's North West Territories.

Dominion Diamond said it expects the deal to close on or around April 10.

BHP Billiton last November sold its 80-percent stake in the Ekati mine and related diamond sorting and sales facilities in Yellowknife in the Northwest Territories and Antwerp to Harry Winston for US$500 million.

Dominion says that national and state bodies had confirmed that it would receive regulatory approvals needed to complete the acquisition of BHP's stake in Ekati.

Dominion Diamond holds 40 percent of the Diavik diamond mine in Canada's Northwest Territories, around 100 kilometers to the southeast of Ekati.

Harry Winston has renamed itself as Dominion Diamond Corp. as part of a deal reached in January to sell its high-end jewelry arm to Swiss watchmaker and retailer Swatch for around $1 billion.