RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Gahcho Kué Production Set to Rise

Output could reach 7.1 million carats per year by 2021.
Nov 28, 2018 5:57 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Production at the Gahcho Kué mine is likely to exceed expectations for 2018 before increasing steadily over the next three years, according to part owner Mountain Province.

The company is confident total output at the Canada asset will be above its upper forecast of 6.6 million carats this year, it said Tuesday. It will then rise to a range of 6.6 million to 6.9 million carats in each of 2019 and 2020, followed by 6.8 million to 7.1 million carats in 2021.

“Our business plan demonstrates the quality of our core asset and the excellent work that the operations team has carried out over the past year, both in exceeding the targets for the current year, and building a stronger longer-term business plan that should extend the life of mine beyond [the current plan of] 2028,” said Mountain Province CEO Stuart Brown.

Gahcho Kué, a joint venture between Mountain Province and De Beers, came on stream in late 2016. Production was 5.9 million carats in 2017, the first full year of operations. The asset yielded 5.4 million carats in the first nine months of 2018, a 25% increase versus the same period of 2017.

Image: Trucks at Gahcho Kué. (Mountain Province)
Tags: Canada, De Beers, Gahcho Kué, Gahcho Kué mine, mining, mountain province, Production, Rapaport News, Rough Diamonds, stuart brown
Similar Articles
De BeersDebswana Mourns Death of Albert Milton
Aug 18, 2019
Albert Milton, managing director of De Beers’Botswana joint venture, has died,...
Stornoway Diamond Fears for Its Future
Mountain Province Faces Nasdaq Delisting
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us