Mountain Province Diamonds posts 13% production decrease in Q3, says on track to meet 2021 guidance
(Kitco News) -Mountain Province Diamonds(TSX: MPVD) yesterday announced that in Q3 2021, 1,562,105 carats wererecovered from the Gahcho Ku?(C) diamond mine, located in Canada's NorthwestTerritories, which is 13% lower than in Q3 2020, and an 11% decrease relativeto Q2 2021.
According to the company'sstatement, mining performance improved relative to the prior quarter,benefitting from improved equipment availability, fewer incidences of extremeweather, as well as improved labour availability.
Chairman and Interim CEO JonathanComerford commented, "I am pleased with the performance of the mine in Q3.The grade was lower in the quarter due to planned processing of lower gradematerial, and because of the previously stated change to a larger bottomcut-off screen size. Despite this we remain well on target to meet ourproduction guidance of 6,300,000 - 6,500,000 carats recovered for 2021."
Mountain Province Diamonds isa 49% participant with De Beers Canada in the Gahcho Ku?(C) diamond mine locatedin Canada's Northwest Territories. The Gahcho Ku?(C) Joint Venture propertyconsists of several kimberlites that are actively being mined, developed, and exploredfor future development.
By Vladimir BasovFor Kitco News
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