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Mountain Province Faces Nasdaq Delisting
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Mountain Province has been given six months toraise its share price or it will no longer be eligible to list on the Nasdaqstock exchange, it said Tuesday. The Canada-based miner’s stock is currently valued at$0.97, below the minimum...
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Mining
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Aug 14, 2019
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Rapaport News
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Currency Gains Boost Mountain Province Profit
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Mountain Province’s profit increased in the second quarter amid a stronger Canadian dollar that reduced its debt levels, it said Tuesday. Profit jumped 61% to CAD 10.3 million ($7.8 million) for thethree months ending...
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Mining
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Aug 07, 2019
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Rapaport News
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Let’s Set Our Sights on the Auctions
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De Beers’ first-half earnings highlighted the many challenges facing the diamond trade. But beyond the sharp declines the mining company suffered, CEO Bruce Cleaver and chief financial officer Nimesh Patel were...
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Rough Markets
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Aug 07, 2019
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Avi Krawitz
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De Beers Testing Carbon-Neutral Mining
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De Beers is studying how to eliminate the carbon footprintof diamond mining by storing the emissions inside kimberlite, it saidWednesday. The miner recently received a government grant of CAD675,000 ($514,000) to test the process at its Gahcho Kué mine...
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Mining
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Jul 24, 2019
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Rapaport News
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Low Grades Dent Mountain Province Output
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Production at Gahcho Kué dropped 10% year on yearto 1.7 million carats in the second quarter, as mining took place in a lower-grade portion of the deposit. “The grade variance year over year is mainly a function ofmining lower-grade-ore...
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Mining
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Jul 21, 2019
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Rapaport News
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Promising New Kimberlite Found at Gahcho Kué
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Geologists have discovered the first new kimberlite pipe in over 20 years at the Gahcho Kué mine in Canada, shareholder Mountain Province reported Tuesday.The find comes nearly three years after production launched at Gahcho Kué,...
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Mining
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Jun 12, 2019
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Rapaport News
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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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Ex-Lucara CEO Joins Mountain Province Board
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Mountain Province has added three industry veterans to itsboard, including William Lamb, the former head of Lucara Diamond Corp., it saidMonday. Lamb has more than 25 years of experience in miningoperations and project development. He served as CEO...
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Mining
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May 06, 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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Resource Update Boosts Mountain Province
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Diamond resources at Mountain Province’s explorationproject in Canada’s Northwest Territories are 74% higher than the company originallyestimated, according to a revised evaluation. The Faraday 2 deposit, one of three pipes in the miner’sKennady North project, has 5.5...
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Mining
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Apr 14, 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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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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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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Ex-Dominion CEO to Launch Lab-Grown Venture
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The former CEO of Dominion Diamond Mines is launching alab-grown-diamond venture targeting the bridal market, the Financial Timesreported. Patrick Evans’s company will produce synthetic stones at aUS location with access to cheap solar power,...
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Technology
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Jan 15, 2019
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Rapaport News
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Dominion CEO Patrick Evans Resigns
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Dominion Diamond Mines CEO Patrick Evans has stepped down withimmediate effect after a year at the company, the miner confirmed to RapaportNews Sunday. Evans joined the Canada-based producer in November 2017 afterits $1.2 billion...
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Mining
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Dec 10, 2018
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Leah Meirovich
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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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