Gahcho Kué on track for maiden January diamond sale

26th October 2016 By: Henry Lazenby - Creamer Media Deputy Editor: North America

Gahcho Kué on track for maiden January diamond sale

Gahcho Kué mine, Canada

VANCOUVER ( – Since starting ramp-up production on August 1, Mountain Province Diamonds and joint venture (JV) partner and mine operator De Beers Canada – which own and operate Gahcho Kué mine, in Canada's Northwest Territories – have processed about 130 000 t of ore and produced 198 000 ct from the mine on a 100% basis.

Of this production, Mountain Province’s 49% share accounts for about 97 000 ct.

The first sale of the company's 49% share of the run-of-mine production will take place on open tender in Antwerp, slated for January 2017, and about every five weeks thereafter.

The JV partners bid for the production of fancy coloured and special (+10.8 ct) diamonds on almost a monthly basis. The bid for August fancies and specials was won by De Beers, and the bid for September production was won by Mountain Province. Included in the parcel of fancy and special diamonds from September are a 50.25 ct gem-quality diamond and three fancy yellow diamonds, weighing between 3 ct and 5 ct. The fancies and specials now owned by Mountain Province will be included in the company's January 2017 sale, Mountain Province stated.

"The 50 ct diamond recovered in September is the largest diamond recovered to date and provides further confirmation that Gahcho Kué has a population of large, high-quality gem diamonds. It is also exciting to see a population of good size fancy yellow diamonds, which offers encouragement that we'll see further fancy diamonds as the production ramps up,” stated Mountain Province president and CEO Patrick Evans.