Mountain Province marches towards first production at Gahcho Kué
TORONTO (miningweekly.com) – TSX- and Nasdaq-listed Mountain Province Diamonds expects to start diamond production at its flagship Gahcho Kué mine in the Northwest Territories sometime during the third quarter, having mechanically completed the primary crusher and progressing with commissioning activities of the process plant.
The Gahcho Kué Joint Venture, a collaboration between De Beers Canada (51%) and Mountain Province Diamonds (49%), continued to progress well, with Mountain Province president and CEO Patrick Evans noting that key remaining areas of focus were finalising commissioning of the process plant, remaining earthworks, prestripping and mining of kimberlite, as well as preparations for operational readiness.
In March, the project was reported to be 87% complete.
Meanwhile, the number of permanent staff had grown to 290, including 91 experienced employees transferred from De Beers’ Snap Lake mine.
Mountain Province advised that it had concluded all the necessary contract arrangements to be in a position to receive, sort and sell its share of diamond production from Gahcho Kué.
The company's diamond marketing team, under the leadership of VP for diamond marketing Reid Mackie had been expanded through the addition of Mark Pearton as manager of diamond operations and Elizabeth Swanson as manager of diamond analysis. Swanson and Pearton had considerable diamond experience, principally with Rio Tinto Diamonds.
The project also continued to meet the company’s lending group's tests-to-completion, with $47-million advanced to fund cash calls during the second quarter. A total of $278-million had been drawn against the $370-million facility, Evans noted.
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