In financial peril, Burgundy reduces Ekati severance payments – Cabin Radio
October 3, 2025
Ekati diamond mine owner Burgundy has reduced the value of its next severance payments to laid-off staff as its financial position worsens.
One of the NWT’s three operating diamond mines, Ekati has already laid off hundreds of workers this year in a bid to cope with a depressed diamond market and the effects of tariffs introduced by the United States.
In particular, US 50-percent tariffs on India – through which most diamonds flow for polishing before onward sale – are having a huge effect. NWT Premier RJ Simpson discussed the issue with US ambassador to Canada Pete Hoekstra this week.
