Mountain Province Diamonds Signs Supply Deal with Chow Tai Fook
March 03, 22
(IDEX Online) - Mountain Province Diamonds (MPD) has reached an agreement to supply China's Chow Tai Fook, the world's largest jewelry chain, with almost 6,000 outlets.
The Canadian miner said it will provide "a select range of diamonds over a one-year, renewable term" but did not provide further details.
MPD owns a 49 per cent share of the Gahcho Kue mine, in a remote part of in the Northwest Territories (the remainder is owned by De Beers Canada). It produced 6.23m carats in 2021, fractionally below its target.
Reid Mackie, MPD's vice president & head of diamond sales and marketing, said: "This is an exciting opportunity for us to partner with a recognised industry leader, known for its discerning approach to diamond sourcing, unwavering focus on production excellence, and extensive retail network across Asia and the United States.
MPD also announced it had a achieved a record high price per carat of $126 (run-of-mine) last month, on sales of $52.7m in Antwerp.
Pic courtesy Mountain Province Diamonds