A World class deposit combined with high margins are keys to the successful future of Mountain Province Diamonds. Partnered with international producer DeBeers, in the world’s newest diamond mine, significant growth is expected.
Mountain Province Diamonds and De Beers Canada are joint venture partners in the Gahcho Kué mine in Canada’s Northwest Territories. Gahcho Kué is the world’s largest new diamond mine. Through its joint venture with De Beers, the Company is well placed to capitalize from the experience of the world’s leading international diamond producer. The Gahcho Kué mine is located in Canada, the third largest and politically most stable diamond producing country. Gahcho Kué is projected to produce an average of 4.5 million carats a year (100%) over an initial 12 year life. Production during the first five years (2017-2021) is expected to average 5.4 million carats a year (100%). Mountain Province intends to maximize shareholder value through the optimal operation of the Gahcho Kué mine.
Diamond mines are extremely rare, and the world supply is expected to remain essentially flat over the next few decades as demand increases. New supply is in high demand. Canada is the first country in the developed world to produce and market high quality diamonds, and is benefiting from an increasingly important role in the global market.
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