Photo by: Mountain Province Diamonds
VANCOUVER (miningweekly.com) – Global mining major Anglo American has started production at its Gahcho Kué diamond mine, located in Canada’s Northwest Territories, saying it expects the operation to reach full commercial production early in 2017, the company said on Wednesday.
With a total capital price tag of about $1-billion, Gahcho Kué is the world’s largest new diamond mine and will produce an average of 4.5-million carats a year over its projected 13-year mine life.
“Starting the ramp up to production at Gahcho Kué – on time, on budget and in a challenging environment – is a remarkable achievement from the team. The mine is an exceptional resource in terms of carat volume, value and its potential to create meaningful economic opportunity for the surrounding community,” stated De Beers CEO Bruce Cleaver.
Located about 280 km east of Yellowknife, Gahcho Kué is a joint venture between De Beers (51%) and Mountain Province Diamonds (49%). Anglo American holds a 85% stake in De Beers – the world's largest diamond producer by value.
Despite facing severe commodity price headwinds, Anglo continues its transformation into a more resilient business, with a core portfolio of diamond-producing De Beers, platinum-group metals and copper.