Ekati Rejects Israeli Bid, Plans to Expand

Another diamond company wants to move into mining.

Israel’s DGI group said it has $2 billion to acquire diamond mines. It recently made two bids to acquire Canada’s Ekati mine. Both were rejected. DGI is headed by Daniel Gertler, a member of Israel’s Schnitzer family.

Rumors of a possible sale of Ekati occur periodically in the industry. However, BHP has said it has no intention of selling, noting that the Ekati mine is “highly profitable.”