Burgundy strikes gem of a deal in Canada

ASX-listed Burgundy Diamonds has struck a $136-million deal to acquire the Ekati diamond mine, in Canada’s Northwest Territories.

Burgundy on Tuesday announced that it had entered into an agreement with Artic Canadian Holdings to acquire all of the common shares of the company, as well as all of the common shares of Arctic Canadian Diamond Marketing, which is responsible for managing the supply chain, sorting, preparation, marketing and sales of the Ekati rough diamonds.