Mountain Province Diamonds: 2017 Output Exceeded Guidance

(IDEX Online) – Mountain Province Diamonds reported that 2017 output exceeded guidance, with its fourth quarter diamond production from the Gahcho Kué diamond mine being approximately 797,000 carats.

The firm owns 49 percent of the operation, which is located in Canada’s Northwest Territories, with De Beers Canada owning the rest.

David Whittle, the Interim President and Chief Executive Officer, said: “These production results have notably exceeded our upwardly-revised full-year 2017 production guidance of 5.5 million carats recovered on a 100 percent basis (actual is 8 percent greater than guidance).

"This was driven by overperformances in both ore tonnes processed (actual is 3 percent greater than guidance) and grade recovered. Ice road development is progressing on schedule, with shipments to site expected to commence by the end of the month. As well, production results continue to track on budget into 2018, with winterization measures implemented this past year showing to have been effective.”