YELLOWKNIFE — The Northwest Territories government says PricewaterhouseCoopers has been appointed receiver to oversee the winding down of the Ekati diamond mine as that once-vital sector to the local economy continues to diminish.
In May, the Supreme Court of British Columbia granted Australia-based Burgundy Diamond Mines and its Canadian subsidiary protection from creditors while the company sought a way out of its financial difficulties.
Jay Macdonald, the N.W.T.’s minister of environment and climate change, says the court-supervised sale process did not result in a viable path forward for operations at the Ekati mine to continue.
He says receivership provides a clear, accountable and court-supervised process to support an orderly transition.
The territory’s diamond industry has entered its final days and the decline has been accelerated by the growing popularity of lab-grown diamonds and U.S. tariffs.
The Diavik mine owned by Rio Tinto marked its last day of production in March, having reached the end of its productive life, while the Gahcho Kué owned by De Beers and Mountain Province is preparing for its end-of-life in the coming years.
“This is a difficult day for the Northwest Territories,” said Caitlin Cleveland, minister of industry, tourism and investment.
“The challenges facing Ekati and the diamond sector are not new, but that does not make this moment any less serious for the workers, families, businesses, Indigenous governments and communities affected by today’s decision.”
Ekati, Diavik and Gahcho Kué have been major employers in the N.W.T. and it’s been estimated that the industry has accounted for about one-fifth of its gross domestic product.
Territorial leaders have been setting their sights on critical minerals as a potential longer-term economic driver. That would mean more, but smaller, mines than the diamond mines that have long anchored the territorial economy. Energy and road infrastructure projects in the territory have also been referred to the new federal major projects office for fast-tracked approvals.
Burgundy previously had a plan that would have seen Ekati operate until as long as 2040. It asked the Australian Stock Exchange last September to suspend its stock trading until it can secure new funding and it undertook major staff cuts. Late last year, Ottawa extended a $115-million Large Enterprise Tariff Loan to Burgundy’s Canadian arm so Ekati could continue operating.
This report by The Canadian Press was first published July 14, 2026.
