Burgundy Diamond Mines (ASX: BDM) confirms the strategic intention to partner with carefully selected diamond manufacturers and traders, jewellers and luxury brands to maximize the value of its sustainably mined Canadian diamonds.
A company statement reads: “The partnerships are to be founded on a shared commitment to leadership in provenance, traceability, product excellence and value creation.”
Aligned with this approach and based on a thorough assessment of the long-term viability of Burgundy’s diamond cutting and polishing operations in Perth, Western Australia, the company has made the decision to close the facility.
Kim Truter, CEO of Burgundy Diamond Mines, said: “We extend our sincere gratitude to our Perth team for their many years of dedication and contribution to the diamond industry and Burgundy. Shareholders expect us to constantly improve and review every aspect of our business performance which this decision demonstrates. We remain committed to vertical integration through our sales office in Antwerp and our strategic partnerships.”
The company stated that the decision is not expected to result in any material financial or production impacts. Burgundy anticipates the end of the closure process by mid-year 2025.
Burgundy Diamond Mines is a resources company focused on the mining, production, cutting, polishing, grading and sale of diamonds. Founded in Perth, Western Australia, Burgundy is developing a unique vertically integrated business model with a focus on the acquisition of the Ekati diamond mine asset in the Northwest Territories.
Ekati is Canada’s first surface and underground diamond mine and is renowned for the premium gem-quality diamonds it produces. Burgundy also holds a 40 percent interest in the Naujaat diamond project located nine km from the Naujaat community in Nunavut.
More information is posted on www.BurgundyDiamonds.com.
