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Mountain Province Gahcho Kue 150
Mountain Province in the Red as Demand Slows
Mountain Province reported a loss in the second quarter as the coronavirus pandemic closed markets and hit demand.The miner posted a net loss of CAD 26.8 million ($21.8 million) for the three months ending June...
Mining Aug 09, 2020 Rapaport News
Mountain Province
Mountain Province Projects 3Q Improvement
Mountain Province anticipates the market for rough diamonds will start to improve toward the end of the third quarter when retailers prepare for holiday sales.“While prices in the post Covid-19 period remain under...
Polished Markets Jul 20, 2020 Rapaport News
Mountain Province
Lenders Grant Waiver to Mountain Province
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...
Mining Jul 14, 2020 Rapaport News
Mountain Province ghacho kue 150
Mountain Province Cuts 2020 Production Forecast
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...
Mining Jun 21, 2020 Rapaport News
Gahcho Kué
Mountain Province Investor to Buy $50M in Rough
Mountain Province plans to sell $50 million worth of rough diamonds to an entity owned by one of its major shareholders, generating liquidity amid weak prices.The first sale of $22 million in diamonds to Dunebridge Worldwide will take place...
Mining Jun 09, 2020 Rapaport News
Mountain Province
Strong US Dollar Pushes Mountain Province to Loss
Mountain Province reported a loss in the first quarter as the stronger US dollar led to an increase in the miner’s debts.The company posted a net loss of CAD 41 million ($29.1 million), compared with a profit of CAD 2.5 million ($1.8...
Mining May 07, 2020 Rapaport News
Miners
Heavy Debt Looms over Mining Shutdown
A number of diamond-mining companies that have halted production during the COVID-19 crisis will find it difficult to resume operations amid their struggles with debt, analysts have predicted.The warning comes after several miners announced...
Mining Apr 23, 2020 Leah Meirovich
De Beers Production
De Beers Makes Dramatic Cut to Production Plan
De Beers has reduced its full-year production guidance by 7 million carats, putting the miner on course for its lowest output since 2009. The miner expects to produce between 25 million and 27 million carats in 2020, compared...
Mining Apr 23, 2020 Rapaport News
Mountain Province
Mountain Province Revenue Improves in 1Q
Sales of rough from Mountain Province’s Gahcho Kué mine grew 2.4% to 659,318 carats in the first quarter, the company said Monday.The Canada-based miner also saw a 6% uplift in its average price, yielding $75 per...
Mining Apr 22, 2020 Rapaport News
Mountain Province
Mountain Province Loss Widens Amid Weak Pricing
Mountain Province’s losses intensified in 2019 as weaker anticipated diamond prices led to the devaluation of its Gahcho Kué mine.The miner posted a net loss of CAD 128.8 million ($89 million), compared with a loss of $14.1 million...
Mining Mar 24, 2020 Rapaport News
Miners coronavirus
Production Continues as Miners Fight Virus Impact
Alrosa, Petra Diamonds and Lucara Diamond Corp. are among the companies putting special procedures in place in preparation for a possible coronavirus outbreak, while still continuing operations at their mines.Alrosa, which has not had...
Mining Mar 19, 2020 Leah Meirovich
Mountain Province
Mountain Province Weighs Virus Effects
Mountain Province has delayed its year-end results by a week due to the effects of the coronavirus, the Canadian diamond miner said Monday.The company and its auditors have been unable to complete the relevant work...
Mining Mar 16, 2020 Rapaport News
Dominion
Dominion Appoints Interim CEO
Dominion Diamond Mines has named Patrick Merrin as its interim CEO, replacing Shane Durgin, who has left to pursue other opportunities. Merrin, who assumes the role with immediate effect, joined parent group...
Mining Feb 11, 2020 Rapaport News
mountain province ore crusher 150
Mountain Province to Exit Nasdaq
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...
Mining Feb 02, 2020 Rapaport News
Mountain Province
Rough Slump Hits Mountain Province
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...
Mining Jan 26, 2020 Rapaport News
Mountain Province
New Pipe Proves Fruitful for Mountain Province
Mountain Province recovered more than 5,000 micro-diamondsfrom Gahcho Kué’s new Wilson pipe during its initial drilling program. The Canadian miner retrieved 1.7 tonnes of kimberlite fromtwo drill holes at the site, it said...
Mining Dec 24, 2019 Rapaport News
Mountain Province trucks 150
Mountain Province Production to Rise
Mountain Province has forecast a rise in output next year amid a stabilization of demand and operational improvements at its Gahcho Kué mine. The Canada-based miner will produce between 6.75 million and 6.95million carats, up from...
Mining Dec 22, 2019 Rapaport News
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
Marketing
Opinion: An Urgent Call to Invest in Marketing
The diamond industry must significantly increase its marketing spend to ensure the trade’s longevity. This need is highlighted by the difficult conditions the sector has endured over the past few years.Recent challenges have...
Marketing Sep 09, 2019 Shashin Choksi & Siddharth Choksi
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