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Dominion Diamond directors resign ‘for personal reasons’

Two directors at Dominion Diamond are stepping down “for personal reasons” just days after a group of shareholders urged the company to change its strategy.

The departure of Dr Fiona Perrott-Humphrey and Ollie Oliveira was announced in a short statement early on Thursday.

Dr Perrott-Humphrey, a financial journalist turned mining investment analyst, had been on the board for 18 months. Oliveira, a former senior executive with Anglo American and De Beers, joined the board a year earlier.

Dominion is the majority owner and operator of the Northwest Territories’ Ekati diamond mine. The company also owns 40 percent of a second NWT diamond mine, Diavik.

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Earlier this week, the Canadian Press reported a group of unhappy Dominion shareholders had criticized the company for “misguided policies and missed opportunities”.

Shareholders’ criticism voiced in a letter included complaints about the company’s marketing strategy and overall business plan.

Dominion reported significantly lower Q3 diamond sales by volume in November, but this month said its plans to expand the Ekati mine remain on track.

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