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UPDATE 1-Canada's Dominion Diamond says fire contained at Ekati plant

Published 2016-06-23, 02:14 p/m
© Reuters. UPDATE 1-Canada's Dominion Diamond says fire contained at Ekati plant
DDC
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(Adds mine output in first quarter, analyst comments)
TORONTO, June 23 (Reuters) - Dominion Diamond Corp DDC.TO
said on Thursday that it has contained a fire that broke out at
its Ekati diamond mine processing plant in Canada's Northwest
Territories, and that the workers have been evacuated.
No injuries have been reported, the Toronto-based company
said in a statement, adding that it would announce more
information as it became available. The fire broke out during a
planned outage at the process plant, said Dominion.
The mine, which has open pit and underground operations,
recovered 1.1 million carats from 1 million tonnes of processed
ore in the first quarter.
"The main concern now will be how much damage has been done
and what the impact to production might be," BMO Capital Markets
analyst Edward Sterck said in a note.
As production ramps up on Dominion's Misery diamond pipe,
any processing delays are likely to hurt the "attractive" cash
flows projected for that pipe, he added.

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