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De Beers, Mountain Province Approve Feasibility Study on Gahcho Kue

Jun 14, 2011 1:43 PM   By Jeff Miller
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RAPAPORT... De Beers Canada and  Mountain Province Diamonds approved the Gahcho Kue feasibility study with some revisions and clarifications. The joint venture partners approved the necessary development work for the Gahcho Kue project and called for the  project's  operator to prepare a plan and budget  for the development of the  mine.

Once the project plan and budget are approved it will serve as the basis for a final investment decision, which is expected to be made once the partners have clarity on the progress of the environmental review currently underway.

Mountain Province holds a minority share of 49 percent  in  Gahcho Kue,  with De Beers Canada controlling a 51 percent stake. Gahcho Kue is located in  Canada's Northwest Territories and consists of a cluster of kimberlites, three of which have a probable mineral reserve of 31.3 million tonnes of ore with a grading estimate of 1.57 carats per tonne.

 

Tags: Canada, De Beers, Gahcho Kue, Jeff Miller, mountain province
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