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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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Strong US Dollar Pushes Mountain Province to Loss
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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...
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Mining
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May 07, 2020
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Rapaport News
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Mountain Province Loss Widens Amid Weak Pricing
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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...
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Mining
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Mar 24, 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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New Pipe Proves Fruitful for Mountain Province
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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...
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Mining
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Dec 24, 2019
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Rapaport News
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Mountain Province Production to Rise
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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...
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Mining
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Dec 22, 2019
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Rapaport News
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Currency Gains Boost Mountain Province Profit
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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...
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Mining
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Aug 07, 2019
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Rapaport News
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Mountain Province Upbeat on Production
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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...
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Mining
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May 12, 2019
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Rapaport News
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Resource Update Boosts Mountain Province
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Diamond resources at Mountain Province’s explorationproject in Canada’s Northwest Territories are 74% higher than the company originallyestimated, according to a revised evaluation. The Faraday 2 deposit, one of three pipes in the miner’sKennady North project, has 5.5...
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Mining
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Apr 14, 2019
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Rapaport News
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Mountain Province Incurs Loss in 2018
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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...
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Mining
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Mar 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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Mountain Province Holds Back Dividend
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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...
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Mining
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Nov 14, 2018
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Rapaport News
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Indian Slowdown Dents Mountain Province
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Mountain Province’s sales dropped at its October tender amid a weaker Indian market, the miner said last week. The company sold 366,505 carats of rough diamonds from its GahchoKué mine for $24.2 million,...
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Mining
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Oct 22, 2018
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Rapaport News
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New Find to Add Life to Gahcho Kué
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A kimberlite discovered during new exploration at MountainProvince’s Gahcho Kué mine will expand total production at the asset. Deposits located near the north pipe of the mine have the potential to increase output at Gahcho Kuéby...
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Mining
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Sep 25, 2018
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Rapaport News
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Large Stones Keep Mountain Province on Track
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Mountain Province’s sales increasedat its August tender, as larger stones and higher-than-expected productionboosted results. The miner sold 411,317 carats of diamonds from its Gahcho Kué mine for $26.9 million, at anaverage price of $65...
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Mining
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Sep 13, 2018
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Rapaport News
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Higher Grades Boost Mountain Province
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Production at the Gahcho Kué mine increased 20% year on year to1.9 million carats in the second quarter, as the asset yielded higher-graderecovery. “The second-quarter performance continues to follow thetrend of ongoing excellent performance set by the...
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Mining
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Jul 22, 2018
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Rapaport News
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Firestone Chief Heads to Mountain Province
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Mountain Province has appointed Stuart Brown as its CEO, to succeed interim chief David Whittle, the Canada-based miner said Tuesday. Brown (pictured), currently CEO of Firestone Diamonds, recentlyannounced he would leave the company on June...
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Mining
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May 16, 2018
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Rapaport News
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Firestone Promotes Paul Bosma to CEO
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Firestone Diamonds has appointed industry veteran Paul Bosmato succeed Stuart Brown as CEO from July 1, the company said Monday. Bosma (pictured) — who worked for De Beers for 14 years — joinedFirestone as mineral-resources manager in 2014,...
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Mining
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May 14, 2018
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Rapaport News
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Firestone Sees Rise in Output, Prices
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Firestone Diamonds’ production and selling prices increased in the thirdquarter amid better rough-market conditions and higher-grade ore from its Liqhobongmine.Output stood at 192,604 carats for the three months ending March 31, the...
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Mining
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Apr 25, 2018
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Rapaport News
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Firestone Diamonds Posts Inaugural Revenue
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Firestone Diamonds recorded its first half-year revenue from the Liqhobongmine in Lesotho, the company said Tuesday. The miner saw sales of $28 million from the recovery of379,716 carats during the six months...
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Mining
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Mar 29, 2018
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Rapaport News
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