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Mountain Province
Mountain Province Slides to Net Loss
Mountain Province saw a net loss in the third quarter,hampered by bad weather and the negative impact of currency fluctuation. The company reported a loss of CAD 25.8 million ($19.6million) from its Gahcho Kué mine in Canada...
Mining Nov 07, 2019 Rapaport News
Mountain Province
Lower Grades Hit Mountain Province Production
Production at the Gahcho Kué mine failed to meet MountainProvince’s expectations in the third quarter, as bad weather led to themining of lower-grade ore. Ore from the asset yielded 1.7 carats of rough diamonds pertonne in the three...
Mining Oct 24, 2019 Rapaport News
Mountain Province
Mountain Province Faces Nasdaq Delisting
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...
Mining Aug 14, 2019 Rapaport News
Mountain Province
Currency Gains Boost Mountain Province Profit
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...
Mining Aug 07, 2019 Rapaport News
Diamonds at Tenders
Let’s Set Our Sights on the Auctions
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...
Rough Markets Aug 07, 2019 Avi Krawitz
De Beers carbon
De Beers Testing Carbon-Neutral Mining
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...
Mining Jul 24, 2019 Rapaport News
Mountain Province Yellow Diamond 150
Low Grades Dent Mountain Province Output
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...
Mining Jul 21, 2019 Rapaport News
Large Canadian rough diamond in palm of hand, GSS
Diamond Glut Prompts De Beers to Slash Production
De Beers has lowered its production forecast for this year,noting that weakness in the diamond trade negatively affected itsperformance in the second quarter.Sales volume slumped 10% to 9 million carats in the threemonths ending June 30 due...
Mining Jul 18, 2019 Rapaport News
Iherzolite
De Beers Identifies New Kimberlite Indicator
The discovery of a new source-rock indicator for diamondformation has the potential to help geologists locate and identify valuablediamond deposits around the world, a study by the University of Alberta and DeBeers shows. “The outcome of the...
Mining Jun 27, 2019 Leah Meirovich
Mountain Province
Mountain Province Upbeat on Production
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...
Mining May 12, 2019 Rapaport News
De Beers Venetia 150
De Beers Sales and Production Drop
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...
Mining Apr 28, 2019 Rapaport News
DEF
DEF Debuts Scholarships for Canadian Industry
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...
Mining Apr 14, 2019 Rapaport News
Gahcho Kué
Analysts Expect Flat Rough Prices in 2019
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,...
Rough Markets Mar 28, 2019 Rapaport News
Mountain Province
Mountain Province Incurs Loss in 2018
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...
Mining Mar 24, 2019 Rapaport News
De Beers
De Beers Merges South Africa, Canada Assets
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...
Mining Feb 26, 2019 Rapaport News
TCWR 150
Canada’s Ice Road Opens for Milestone Year
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...
Mining Feb 07, 2019 Leah Meirovich
Mountain Province
High-Value Rough Lifts Mountain Province
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...
Mining Jan 16, 2019 Rapaport News
Mountain Province
Gahcho Kué Production Set to Rise
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...
Mining Nov 28, 2018 Rapaport News
Mountain Province
Large Stones Drive Mountain Province Tender
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...
Mining Nov 19, 2018 Rapaport News
Mountain Province
Mountain Province Holds Back Dividend
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...
Mining Nov 14, 2018 Rapaport News
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