Gahcho Kué Project Report Puts Initial Production at 4.45 Million Carats
May 15, 14
(IDEX Online News) – Mountain Province Diamonds Inc. has filed its Feasibility Study Report for the Gahcho Kué Project. The project is a Joint Venture between Mountain Province, which holds a 49-percent stake, and De Beers Canada, which holds a 51-percent stake
According to the report, the average annual production for the first three years of full production, which is planned to start in 2017, is estimated at 5.6 million carats.
The mine has an estimated operational life of 12 years and is expected to mine 3 million tons annually for a projected total production of 53.4 million carats or 4.45 million carats a year.
According to the modeled diamond price estimate provided by WWW International Diamond Consultants, diamond revenue will be $149.66 per carat.
“The feasibility study report confirms an economically robust, technically credible and environmentally sound development plan for the Gahcho Kué mine”, said Mountain Province CEO Patrick Evans.
Earlier this week, De Beers Canada came under some criticism from the Yellowknives Dene First Nation in the Northwest Territories which said plans for the Gahcho Kué mine site don't go far enough in protecting the environment.