US EditionArctic Canadian Diamond Company Ltd. files for CCAA protection
- Arctic Canadian Diamond Company Ltd. has filed for insolvency protection under the Companies' Creditors Arrangement Act , with the Supreme Court of British Columbia extending protection to parent company Burgundy Diamond Mines Limited by a non-applicant stay party order.
- The filing was driven by US tariffs on natural diamonds, global weak demand for rough diamonds, and rising costs including increased fuel prices attributed to Middle East conflicts.
- ACDC will continue mining operations at the Ekati Diamond Mine during the restructuring process, with management maintaining day-to-day operations.
- FTI Consulting has been appointed as Court Monitor overseeing the CCAA proceedings, and Burgundy pledges to maintain commitments to employees and communities and aims to emerge stronger from the restructuring.
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15 Articles
Arctic Canadian Diamond Company Ltd. files for CCAA protection
CALGARY, Alberta, May 01, 2026 (GLOBE NEWSWIRE) -- Burgundy Diamond Mines Limited (ASX:BDM) (Burgundy or the Company) advises that its subsidiary, Arctic Canadian Diamond Company Ltd. ("ACDC") has filed for insolvency protection under the Companies' Creditors Arrangement Act ("CCAA"). Incorporated in British Columbia, ACDC has obtained an order from the Supreme Court of British Colombia (the "Court"), granting ACDC protection under the CCAA. ACD…
Ekati owner enters creditor protection months after $175M federal loan
The Burgundy Diamond Mines subsidiary that owns the NWT's Ekati diamond mine has filed for creditor protection, though the mine will keep operating for now. The post Ekati owner enters creditor protection months after $175M federal loan first appeared on Cabin Radio.
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