Mountain Province Diamond Production Drops by 15%

By John Jeffay / April 18, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Mountain Province reported a 15 per cent drop in production as it processed lower grade ore.But the Canadian miner said the discovery of kimberlite at its Gahcho Ku?? (C) mine (pictured) in a remote part of Northwestern Territories provided "significant opportunities for additional diamonds to be discovered".It recovered 1,185,156 carats in the first quarter of 2022, according to its production and sales results, down from 1,392,128 carats in Q1 2021.The number of tonnes of ore mined almost doubled, up 98 per cent to 1,018,722, yielding an average 1.68 carats per tonne, a 25 per cent drop year-on-year.Mountain Province sold 506,567 carats for US$66.7m, a 52 per cent increase on the previous quarter, reflecting increased rough demand.Mark Wall, president and CEO, said: "The discovery of incremental, previously unmodeled Kimberlite ore is a positive for the operation and reflects the significant opportunities for additional diamonds to be discovered at the Gahcho Ku?? (C) mine."Gahcho Ku?? (C)  is a joint venture between Mountain Province Diamonds, which owns 49 per cent , and De Beers Canada, which holds a 51 per cent interest and is the mine's operator.

Recent News

Crypto market size continues to catch up with gold

November 18, 2024 / www.canadianminingreport.com

Crypto stealing some of gold's thunder

November 18, 2024 / www.canadianminingreport.com

Gold stocks drop on metal price decline

November 11, 2024 / www.canadianminingreport.com

US a major market for Canadian mineral exports

November 11, 2024 / www.canadianminingreport.com

Gold stocks down along with broad equities decline

November 04, 2024 / www.canadianminingreport.com
See all >
Share to Youtube Share to Facebook Facebook Share to Linkedin Share to Twitter Twitter Share to Tiktok