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Mountain Province Upbeat on Production
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Shares in Mountain Province rose 12% Friday after it increased its production guidance for the Gahcho Kué deposit. The Canada-based miner has made plant modifications at thesite that will allow it to process between 3.2...
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Mining
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May 12, 2019
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Rapaport News
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De Beers Sales and Production Drop
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De Beers’ sales volume fell 15% to 7.5 million carats in thefirst quarter, as overall demand for lower-value rough goods remained soft.Production for the three months ending March 31 dropped 8%to 7.9 million carats due...
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Mining
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Apr 28, 2019
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Rapaport News
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DEF Debuts Scholarships for Canadian Industry
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The Diamond Empowerment Fund (DEF) has launched its firsteducational grants for young people in Canada’s Northwest Territories (NWT). “Creating education and employment opportunities for youthwho live in areas where natural diamonds are...
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Mining
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Apr 14, 2019
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Rapaport News
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Analysts Expect Flat Rough Prices in 2019
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Rough-diamond prices will remain sluggish this year as themarket challenges that arose in the second half of last year are set to continue,two investment banks have warned.Prices are likely to drop 1% to 2% in the first half of2019,...
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Rough Markets
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Mar 28, 2019
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Rapaport News
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Mountain Province Incurs Loss in 2018
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The devaluation of the Canadian dollar pushed Mountain Province to a loss in 2018, even as sales grew strongly in the first full year of commercial operations at the Gahcho Kué mine.The miner reported a net loss of CAD 18.9...
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Mining
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Mar 24, 2019
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Rapaport News
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De Beers Merges South Africa, Canada Assets
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De Beers will combine its mining ventures in South Africaand Canada to streamline operational management and increase sustainability, itsaid Monday. The new business, De Beers Group Managed Operations, willoversee the Venetia and Gahcho Kué...
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Mining
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Feb 26, 2019
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Rapaport News
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Canada’s Ice Road Opens for Milestone Year
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February is a crucial time for Canada’s diamond mines.Located in the most remote region of the country’s frozen Northwest Territories(NWT), Rio Tinto, Dominion Diamond Mines and De Beers have a two-month windowto connect their mining operations...
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Mining
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Feb 07, 2019
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Leah Meirovich
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High-Value Rough Lifts Mountain Province
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Stronger prices for higher-value rough diamonds boosted Mountain Province’s 2018 sales, as the company sold its entire production for the year. The miner’s sales surged79% year on year to $240 million in 2018, according...
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Mining
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Jan 16, 2019
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Rapaport News
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Gahcho Kué Production Set to Rise
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Production at the Gahcho Kué mine is likely to exceedexpectations for 2018 before increasing steadily over the next three years, accordingto part owner Mountain Province. The company is confident total output at the Canada asset...
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Mining
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Nov 28, 2018
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Rapaport News
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Large Stones Drive Mountain Province Tender
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Mountain Province’s average selling price rose at itsNovember tender amid strong demand for higher-value goods and a slightimprovement in the market for smaller rough. The miner garnered $72 per carat from the sale...
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Mining
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Nov 19, 2018
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Rapaport News
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Mountain Province Holds Back Dividend
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Mountain Province decided not to pay a quarterly dividend toshareholders due to challenging conditions in the diamond market, the minerreported. Demand for rough from its Gahcho Kué mine in Canada was sluggishin the third quarter...
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Mining
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Nov 14, 2018
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Rapaport News
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Higher Grades Sustain Gahcho Kué Production
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Production at the Gahcho Kué mine was flat in the thirdquarter as higher grades offset the impact of a planned closure. Ore from the asset yielded 2.4 carats of rough diamonds pertonne — an 8% increase versus a year ago....
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Mining
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Oct 28, 2018
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Rapaport News
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De Beers Production and Sales Slide
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De Beers’ production fell 5% to 8.7 million carats in thethird quarter due to planned reductions in mining volumes in Botswana and SouthAfrica. The miner processed lower-grade ore at its Jwaneng mine inBotswana, resulting in overall output for Debswana...
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Mining
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Oct 23, 2018
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Rapaport News
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Indian Slowdown Dents Mountain Province
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Mountain Province’s sales dropped at its October tender amid a weaker Indian market, the miner said last week. The company sold 366,505 carats of rough diamonds from its GahchoKué mine for $24.2 million,...
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Mining
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Oct 22, 2018
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Rapaport News
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New Find to Add Life to Gahcho Kué
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A kimberlite discovered during new exploration at MountainProvince’s Gahcho Kué mine will expand total production at the asset. Deposits located near the north pipe of the mine have the potential to increase output at Gahcho Kuéby...
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Mining
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Sep 25, 2018
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Rapaport News
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Large Stones Keep Mountain Province on Track
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Mountain Province’s sales increasedat its August tender, as larger stones and higher-than-expected productionboosted results. The miner sold 411,317 carats of diamonds from its Gahcho Kué mine for $26.9 million, at anaverage price of $65...
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Mining
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Sep 13, 2018
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Rapaport News
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Lack of Large Stones Hits Mountain Province Sales
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Mountain Province’s sales dropped at its July tender,as a lack of large and fancy stones led to a lower average price. The miner sold 334,751 carats of diamonds from its GahchoKué mine for $22.2 million, at an average...
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Mining
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Aug 16, 2018
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Rapaport News
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Diamond Resources Might Not Be Forever
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While it’s true that value comes from rarity, no naturalresource lasts forever, and the rare is becoming even rarer. Diamond productionis set to peak in 2019, after which it will begin a steady decline. De Beersestimates global...
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Mining
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Aug 14, 2018
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Leah Meirovich
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Currency Decline Hits Mountain Province
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Mountain Province recorded a net loss in the second quarteras the weaker Canadian dollar inflated its debt levels. The loss amounted to $4.8 million (CAD 6.3 million) for thethree months ending June 30,...
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Mining
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Aug 12, 2018
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Rapaport News
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Higher Grades Boost Mountain Province
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Production at the Gahcho Kué mine increased 20% year on year to1.9 million carats in the second quarter, as the asset yielded higher-graderecovery. “The second-quarter performance continues to follow thetrend of ongoing excellent performance set by the...
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Mining
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Jul 22, 2018
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Rapaport News
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