Fipke Not Planning Retreat from Diamond Industry

The Globe and Mail reported Friday that Canadian diamond veteran Charles “Chuck” Fipke has said the sale of his stake in the Ekati diamond mine is “anything but a retreat” from the diamond industry.

As quoted in the market news:

Rather, it’s his thirst for adventure that spurred him cut financial ties to Ekati, Canada’s first diamond mine and the product of his epic discovery in the Canadian arctic in the 1990s. The chunk of cash he’ll receive – a cool $67-million (U.S.), plus ‘quite a bit’ of adjustments and interest payments – will help him to actively hunt for new sparkling gems.

Fipke said:

I’m an explorer, not a manager. It was always nice to own part of the [Ekati] mine. It was fun, but I’m more of a geologist than a mining manager. This allows me to do more exploration.

Click here to read the full report from The Globe and Mail.