March 8, 2026
CEEFC provides additional financing to Arctic Canadian Diamond Company Ltd. under the Large Enterprise Tariff Loan facility
Toronto, March 8, 2026 – Canada Development Investment Corporation (CDEV), through its subsidiary the Canada Enterprise Emergency Funding Corporation (CEEFC), has provided up to $60 million in additional financing to Arctic Canadian Diamond Company Limited, a wholly owned subsidiary of Burgundy Diamond Mines Limited.
The financing is provided under the Government of Canada’s Large Enterprise Tariff Loan (LETL) facility, which supports large Canadian enterprises affected by actual or potential tariffs and related economic uncertainty. The additional financing increases the total available to the company under the facility by up to $175 million.
The financing will support the continued operation of the Ekati diamond mine in the Northwest Territories.
Additional details regarding the facility are available in Burgundy Diamond Mines Limited’s public disclosures.
About CDEV
- Canada Development Investment Corporation (CDEV) is a federal Crown corporation that reports to Parliament through the Minister of Finance. CDEV manages commercial investments on behalf of the Government of Canada.
- The Large Enterprise Tariff Loan (LETL) provides liquidity to otherwise viable businesses, while protecting taxpayer interests. Companies interested in applying for the LETL facility can assess their eligibility and submit an enquiry form to CEEFC via the CEEFC website at https://ceefc-cfuec.ca/.