De Beers Looking to Cut Gahcho Kue Costs
January 31, 07 by IDEX Online Staff Reporter
De Beers Canada Chief Executive, Jim Gowans, said Monday that the company is looking to cut the cost of its Gahcho Kue project in the Northwest Territories by 20 percent. Gowans did not provide details on how the cost-cutting will be achieved.
Talking about the project’s one billion dollar cost at the Mineral Exploration Roundup conference in Vancouver, Gowans said, “We can see that drop considerably.” The proposed diamond mine is currently awaiting final approval by authorities.
The proposed diamond mine is one of three such De Beers' projects in Canada that have passed the feasibility stage. The two other, Snap Lake and Victor, are already being constructed. Snap Lake is expected to come online later this year, with Victor becoming active in 2008.
Gahcho Kue is located 56 miles (90 kilometers) southeast of Snap Lake, a joint venture of De Beers Canada, Mountain Province Diamonds, and Camphor Ventures. Tests indicate that the mine will produce 3 million carats annually.
