Dominion Diamond Corp Relocating Corporate Office to Cut Costs

(IDEX Online) – Dominion Diamond Corporation is relocating its corporate office from Yellowknife in the Northwest Territories to Calgary in Alberta as part of measures taken to reduce operating costs and support the long-term strength of the company.

The move is projected to be completed by the middle of next year. The company expects the relocation to bring about savings of approximately C$19 million (US$14 million) annually.

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.

"Dominion Diamond remains committed to continuing its ongoing operations at the Ekati mine without interruption, including the development of the Jay Project," the miner said.

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."