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Mountain Province Production to Rise

Miner expects output of 6.75 million to 6.95 million carats at Gahcho Kué next year.
Dec 22, 2019 7:24 AM   By Rapaport News
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RAPAPORT... 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 6.95 million carats, up from the 6.7 million to 6.8 million carats it expects for 2019, it estimated. The projection for next year is higher than its earlier forecast of 6.6 million to 6.9 million carats.

“The company’s guidance for 2020 demonstrates that the operating margins remain healthy and the mine continues to generate free positive cash flow, providing better leverage to fund the potential expansion of all the assets within its portfolio,” Mountain Province CEO Stuart Brown said last week.

Mountain Province expects to achieve the upper end of its production forecast for 2019, and also reduced its costs during the year. 

While the second half of the year was challenging, there were signs of stabilization in the market, the company noted.

“Mountain Province’s prices over its last two sales have been positive,” Brown added.

Image: Trucks at Gahcho Kué. (Mountain Province)
Tags: Gahcho Kué, mountain province, Rapaport News, stuart brown
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