Burgundy Diamond Mines

What Burgundy Diamond Mines does

Burgundy Diamond Mines Limited (ASX:BDM) is a publicly listed, vertically integrated diamond company anchored by the Ekati Diamond Mine in Canada's Northwest Territories — Canada's first surface and underground diamond mine, in production since 1998 and operated through wholly-owned subsidiary Arctic Canadian Diamond Company Ltd. (ACDC). A second wholly-owned subsidiary, Arctic Canadian Diamond Marketing, runs the global sales operation. The company's stated mine-to-market model spans extraction in Canada, cutting/polishing in Perth (Australia), and downstream sales through auction events in Antwerp (Belgium) plus registered CanadaMark retailers. Activity in 2025 included joint launch of the Opulence Collection with the Royal Canadian Mint (coins embedded with Ekati fancy yellow diamonds).

Burgundy generates the substantial majority of its revenue from selling rough diamonds from Ekati to global midstream manufacturers (cutters, polishers, and jewelry makers), priced via auction in Antwerp and through direct sales to registered customers. Differentiators cited are provenance traceability, ethical sourcing under the CanadaMark certification, and access to a tier-one Canadian deposit. Other disclosed revenue lines include the development-stage Naujaat Diamond Project and the newly launched luxury numismatic Opulence Collection.

The business is currently in severe financial distress. Natural diamond prices fell approximately 74%, from $92/carat at end-2024 to $24/carat by December 2025, driven by US tariffs, weakening Chinese demand, competition from lab-grown diamonds, and rising fuel costs. To preserve operations, Burgundy received a C$115 million federal loan (expanded from an earlier C$55 million) and operates under a C$175 million federal LETL facility. On May 1, 2026, ACDC filed for CCAA insolvency protection in the Supreme Court of British Columbia; the stay was extended to July 28, 2026 with a sales and investment solicitation process (SISP) now underway for the Ekati assets, alongside prior workforce layoffs.

Name

Burgundy Diamond Mines

Legal name

Burgundy Diamond Mines Limited Company

Website

https://burgundy-diamonds.com

Company type

Public

Founded year

2012

Operating status

Operating

Headcount range

251–500 employees

Short description

Burgundy Diamond Mines (ASX:BDM) operates Canada's Ekati Diamond Mine through a vertically integrated mine-to-market model spanning extraction (Canada), cutting and polishing (Australia), and global rough-diamond auctions (Belgium), serving midstream manufacturers and select luxury partners.

Ownership category

akta.pro rank

Product category

Diamond Mining

NAICS

Nonmetallic Mineral Mining and Quarrying (2123), Other Nonmetallic Mineral Mining and Quarrying (21239), Coal and Other Mineral and Ore Merchant Wholesalers (42352)

SIC

Mining & Quarrying Of Nonmetallic Minerals (No Fuels) (1400), Wholesale-Jewelry, Watches, Precious Stones & Metals (5094)

akta.pro primary industry

Rough Diamond Trading & Brokerage (CRAKAJAC)

akta.pro secondary industries

Diamond Cutting & Polishing (Manufacturing) (CRAKAJAA), Polished Diamond Trading & Brokerage (CRAKAJAD), Diamond Grading & Certification Laboratories (CRAKAJAG)

Keywords

• Rough diamond mining
• Diamond exploration
• Mine to market diamonds
• Canadian diamond production
• Diamond cutting polishing

Headquarters

HQ city

Perth

HQ country

Australia

HQ region

Oceania

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Rough Diamond Sales: Burgundy Diamond Mines generates revenue primarily through the extraction and sale of rough diamonds from its Ekati Diamond Mine in Canada's Northwest Territories. Diamonds are sold to global manufacturers through auctions in Antwerp, Belgium and directly to registered midstream customers. The mine-to-market business model enables full traceability from extraction through to point of sale.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels4 records

Core offering

Burgundy Diamond Mines extracts rough diamonds at the Ekati Diamond Mine in Canada's Northwest Territories, processes them through cutting, polishing, and grading facilities in Perth, Australia, and sells premium rough diamond assortments globally through auctions in Antwerp, Belgium to midstream manufacturers and via CanadaMark authorized retailers. The company operates a fully integrated mine-to-market model focused on ethically sourced, traceable Canadian diamonds.

Product overview

Burgundy Diamond Mines is a premier global diamond company with a vertically integrated mine-to-market business model. The company operates the Ekati Diamond Mine in Canada's Northwest Territories (its primary asset), holds the Naujaat Diamond Project in development stage, processes diamonds through cutting and polishing facilities in Perth, Australia, and sells rough diamonds through Antwerp sales operations and CanadaMark retailers. The Opulence Collection, a luxury product line developed with the Royal Canadian Mint, features premium gold and platinum coins adorned with fancy yellow diamonds from Ekati.

Differentiator

Problem solved

Functional benefit

Products and services

• Ekati Diamond Mine Canada's first surface and underground diamond mine located in the Northwest Territories, serving as the primary source of ethically mined rough diamonds for the company. It is owned and operated by subsidiary Arctic Canadian Diamond Company (ACDC).
• Opulence Collection Premium gold and platinum coin collection featuring rare fancy yellow diamonds sourced from the Ekati Diamond Mine, created in partnership with the Royal Canadian Mint. Includes 'Brilliance' and 'Radiance' limited-edition pieces designed by Canadian artists.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Royal Canadian MintflagshipStrategic or Co-development PartnerThe Royal Canadian Mint partnered with Burgundy Diamond Mines for the Opulence Collection, featuring limited-edition gold and platinum coins ('Brilliance' and 'Radiance') adorned with rare fancy yellow diamonds sourced from Canada's Ekati Diamond Mine. The partnership emphasizes ethical and high-quality Canadian diamond sourcing and highlights Canada's mineral wealth.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• De Beers Group: De Beers is the world's largest diamond miner and a fully integrated mine-to-market operator spanning exploration, mining, sorting, and retail. It is the dominant incumbent comparable to Burgundy in both upstream rough production and downstream traceability programs (e.g., Tracr).
• Alrosa: Alrosa is the world's largest diamond miner by volume, operating integrated mining and rough diamond sales operations. Comparable to Burgundy as a major rough diamond producer with broad geographic operations across the diamond value chain.
• Tiffany & Co. Tiffany is a downstream luxury jewelry buyer and one of the largest consumers of polished diamonds globally. Relevant comparable as the downstream anchor of the same diamond value chain Burgundy supplies through CanadaMark.

Direct peers

• Rio Tinto Diamonds: Rio Tinto operates the Diavik diamond mine in Canada's Northwest Territories alongside Burgundy's Ekati, making it the closest geographic and operational peer in Canadian diamond mining. Both produce premium rough assortments from tier-one mines.
• Mountain Province Diamonds: Mountain Province operates the Gahcho Kué diamond mine in Canada's Northwest Territories, directly comparable to Ekati in scale, jurisdiction, and product mix. It also markets rough diamonds internationally, including through Antwerp tenders.
• Lucara Diamond Corp: Lucara operates the Karowe diamond mine in Botswana, a mid-tier diamond producer focused on high-value rough, including fancy stones. Similar in profile to Burgundy as a single-mine producer of premium rough assortments.
• Petra Diamonds: Petra Diamonds operates tier-one diamond mines in Tanzania and South Africa and has been navigating financial restructuring, making it a relevant comparable to Burgundy on both operational and distressed-restructuring dimensions.
• Gem Diamonds: Gem Diamonds operates the Letšeng mine in Lesotho, producing large, high-value rough diamonds. Comparable to Burgundy as a mid-tier public diamond miner focused on premium rough.

Regional players

• Stornoway Diamond Corporation: Stornoway operated the Renard diamond mine in Quebec before its CCAA-driven restructuring. Comparable to Burgundy as a Canadian diamond miner that has also experienced financial distress and asset sale processes.

Others

• Dominion Diamond Mines: Dominion Diamond Mines formerly owned and operated the Ekati mine before selling it to Burgundy. It remains an upstream comparable in Canadian diamond mining and a reference point for Ekati's prior operational profile.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInca.linkedin.com/company/burgundydiamonds

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds2 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Burgundy Diamond Mines