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Mountain Province Gets Approval for Investor Bailout
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Mountain Province shareholders have approved a refinancing deal that will allow one of its major investors to buy out its current credit facility.Dunebridge Worldwide, which is controlled by Dermot Desmond, who owns just over 32%...
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Mining
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Oct 01, 2020
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Rapaport News
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Mountain Province to Up Investor Sales Agreement
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Mountain Province plans to sell an additional $50 million worth of rough diamonds from its Gahcho Kué mine to Dunebridge Worldwide to help generate liquidity and bolster the company.The sale “will significantly strengthen the company's...
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Mining
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Aug 19, 2020
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Rapaport News
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Lenders Grant Waiver to Mountain Province
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Mountain Province has obtained a waiver for its revolving-loan agreement as it struggles with challenges in the diamond market amid the coronavirus pandemic.The Bank of Nova Scotia and Nedbank, which hold the loan, have agreed...
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Mining
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Jul 14, 2020
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Rapaport News
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Mountain Province Cuts 2020 Production Forecast
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Mountain Province has reduced its production outlook for the year amid the challenges posed by the coronavirus pandemic and its impact on operations.The miner now expects to produce between 6.3 million and 6.4...
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Mining
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Jun 21, 2020
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Rapaport News
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Mountain Province to Exit Nasdaq
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Mountain Province has decided to delist itself from the Nasdaq stock exchange following six months in which its shares were below the minimum bid price.The company, which is also listed on the Toronto Stock...
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Mining
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Feb 02, 2020
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Rapaport News
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Rough Slump Hits Mountain Province
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Sales of rough diamonds at Mountain Province fell 13% in 2019 as a glut in the midstream led to a challenging market.The company’s sales from its Gahcho Kué mine in Canada slipped year on year to $208.2 million in 2019, it said last...
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Mining
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Jan 26, 2020
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Rapaport News
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De Beers, Dominion Seek Canada Expansion
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De Beers and Dominion Diamond Mines have submitted paperwork indicating their desire to expand exploration at their current projects in Canada.In a December 31 permit request to Canada’s Mackenzie Valley Land and Water Board, De Beers noted interest...
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Mining
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Jan 06, 2020
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Rapaport News
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Mountain Province Slides to Net Loss
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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...
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Mining
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Nov 07, 2019
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Rapaport News
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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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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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Gahcho Kué Prices Rise as Market Improves
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Mountain Province Diamonds has posted its highest monthly sales total to date, as better-quality production and improved demand drove rough prices higher in February.The company sold a total of 351,000 carats from its Gahcho Kué...
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Mining
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Feb 13, 2018
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Rapaport News
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Gahcho Kué Prices Hit New Peak at $95/ct.
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Mountain Province Diamonds recorded its highest averageprice to date as it garnered $21.1 million at its June sale.The fifth tender of rough from the company’s Gahcho Kué minefetched $95 per carat, compared with $72 per...
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Mining
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Jun 27, 2017
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Rapaport News
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