- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Canada's Diavik Mine Axes 51 Jobs
Diavik Diamond Mines, the company that runs the iconic operation of the same name in Canada’s Northwest Territories, has axed 51 jobs.
Diavik Diamond Mines, the company that runs the iconic operation of the same name in Canada’s Northwest Territories, has axed 51 jobs due to what the firm called “challenging” market conditions, CBC News reported.
Diavik mine, owned by Dominion Diamond (TSX, NYSE:DDC) with a 40% stake and Rio Tinto (ASX, LON:RIO) holding the remaining 60%, has been affected by mayor changes as of late.
Early this month, Dominion announced it was moving its headquarters from Yellownife to Calgary as part of a cost-cutting move that would leave about 100 unemployed, but that will save the firm $19 million a year once the relocation is completed by mid-2017.
Diavik is located in the Northwest Territories, 300 kilometres northeast of Yellowknife, close to Ekati, which Dominion bought from BHP Billiton (ASX:BHP) in 2013.
The mine is expected to run out of diamonds in 2024, even with the development of a fourth pipe, known as A21, which is expected to begin production in 2018.
The post Canada’s Diavik mine axes 51 jobs appeared first on MINING.com.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.