Mountain Province Diamond Production Drops by 15%
April 18, 22
(IDEX Online) - Mountain Province reported a 15 per cent drop in production as it processed lower grade ore.
But the Canadian miner said the discovery of kimberlite at its Gahcho Kué mine (pictured) in a remote part of Northwestern Territories provided "significant opportunities for additional diamonds to be discovered".
It recovered 1,185,156 carats in the first quarter of 2022, according to its production and sales results, down from 1,392,128 carats in Q1 2021.
The number of tonnes of ore mined almost doubled, up 98 per cent to 1,018,722, yielding an average 1.68 carats per tonne, a 25 per cent drop year-on-year.
Mountain Province sold 506,567 carats for US$66.7m, a 52 per cent increase on the previous quarter, reflecting increased rough demand.
Mark Wall, president and CEO, said: "The discovery of incremental, previously unmodeled Kimberlite ore is a positive for the operation and reflects the significant opportunities for additional diamonds to be discovered at the Gahcho Kué mine."
Gahcho Kué is a joint venture between Mountain Province Diamonds, which owns 49 per cent , and De Beers Canada, which holds a 51 per cent interest and is the mine's operator.