Charles “Chuck” Fipke, the man who started Canada’s arctic diamond rush in the 1990s by discovering the Ekati mine, is selling his remaining 10% interest in the Arctic mine for US$67 million, to Dominion Diamond (TSX, NYSE:DDC).
While the sale ends Fipke’s financial involvement with Canada’s first diamond mine, his contribution to its discovery and success goes well beyond that, the chairman and CEO of Dominion Diamond said in a statement.
The diamond mining legend focused his life’s work on finding precious gems in Canada’s far north.
A joint venture between Fipke’s Dia Met Minerals and BHP Utah in the 1980s and 1990s, led to starting Ekati mine in 1998, with Fipke and prospecting partner Stewart Blusson each holding a 10% interest in the operation.
Author Cecilia Jamasmie
Read the original Press Release on the Dominion Diamond Corporation website
