Burgundy shifts sales strategy, closes Perth polishing facility
Canada-focused Burgundy Diamond Mines said on Tuesday that it would refine its approach to the high-end diamond market by forging new partnerships with manufacturers, traders, and luxury brands, while closing its polishing facility in Perth, Western Australia.
The ASX-listed company said the move aligned with a strategy to “maximise the value of its sustainably mined Canadian diamonds” by partnering with select industry players committed to provenance, traceability and product excellence.
The shift follows “a thorough assessment of the long-term viability” of its Perth cutting and polishing operations, Burgundy said. The closure was expected to be completed by mid-2025 and would not materially impact financials or production, the company stated.
“We extend our sincere gratitude to our Perth team for their many years of dedication and contribution to the diamond industry and Burgundy,” said CEO Kim Truter.
“Shareholders expect us to constantly improve and review every aspect of our business performance which this decision demonstrates. We remain committed to vertical integration through our sales office in Antwerp and our strategic partnerships.”
The Perth facility had long been part of Burgundy’s vertically integrated supply chain, and its closure marks a pivot toward a more collaborative, partnership-driven model. The company said future sales would increasingly flow through Antwerp, where it operated a dedicated office focused on high-value transactions and traceable sourcing.
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