Mountain Province says Price per Carat is up 60%

By John Jeffay / August 10, 2022 / www.idexonline.com / Article Link

(IDEX Online) - Mountain Province saw profits almost static (up by less than one per cent) during the last quarter as higher per-carat prices made up for a steep fall in sales volume.The Canada-based miner said carats sold during the three months ending 30 June were down 18 per cent, year-on-year, but the average price per carat leapt from $82 to $131, (figures are US dollars) an increase of almost 60 per cent.Profit for the quarter was $17.7m, although half-yearly profits were up by almost 58 per cent to $39.2m.Mountain Province which operates Gahcho Kue (pictured), in Northwest Territories, in a joint venture with De Beers, said it was a "strong financial performance".Mark Wall, president and CEO, did note, however that "there remain other areas of the operational performance that do not meet our expectations.He said: "We continue to actively engage with De Beers as the operator around the plan to deliver these improvements."

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