Rapaport News



Rapaport Broadcast
Martin Rapaport’s Webinar on Estate Jewelry
October 30 2019

Advanced search
Latest Articles
Rough Markets
Polished Markets

De Beers Eyes Stake in Canada Diamond Project

Miner signs non-binding agreement with Mountain Province to incorporate Kennady assets into Gahcho Kué.
Mar 18, 2018 9:33 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share

RAPAPORT... De Beers and Mountain Province have signed a non-binding agreement that opens the door to the two miners having shared ownership of the Kennady Diamonds project in Canada.

The two companies are currently partners in the Gahcho Kué mine, with De Beers holding 51% and Mountain Province owning the remaining 49%. The memorandum of understanding (MoU) recognizes the possibility for Mountain Province to incorporate its recently acquired Kennady Diamonds exploration properties into the existing Gahcho Kué project, the companies said in statements Friday.

“We have been very pleased with the progress of our partnership with Mountain Province in the Gahcho Kué mine,” De Beers Canada CEO Kim Truter said. “Their proposed acquisition of Kennady Diamonds opens up some potential new options for the operation’s future.”

In January, Mountain Province announced it would reacquire Kennady after a five-year separation, with CEO David Whittle stating the assets would strongly compliment Gahcho Kué. The two projects are adjacent.

The MoU is dependent on Mountain Province gaining the necessary approval for the Kennady takeover.
Tags: David Whittle, De Beers, Gahcho Kué, kennady, Kennady Diamonds, Kim Truter, memorandum of understanding, miners, MoU, mountain province, Rapaport News
Similar Articles
Rio Tinto Argyle mineRio Tinto Lowers Outlook as Argyle Closure Looms
Jan 19, 2020
Rio Tinto expects a decline in diamond production in 2020 as it reduces output...
Alrosa Names New Director of Severalmaz
Alrosa Revenue Rises Amid Market Rebound
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First

Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
twitter twitter
About Rapaport
Advertise with us