Partners
Mountain Province Diamonds (TSX: MPVD; NASDAQ: MPVD) and
De Beers seem to be finding their stride at the Gahcho Kue mine, in the Northwest Territories.
Mountain Province owns a 49% stake in the open pit mine, while De Beers is the majority owner and operator.
The partners are in the early stages of making changes in the plant that will allow them to recover larger and higher quality diamonds at a faster pace. Those changes, which will result in a slightly lower recovered grade, include an increase in sieve sizes to increase tonnes treated.
“The main objective of this initiative is to increase revenue per hour generated in the plant by eliminating lower quality and smaller stones in the early stages of treatment. The benefits of the changes are starting to be seen in the value of the production sold,” the company said in a news release.
The mine is expected to produce 6.6 million to 6.9 million carats this year, with Mountain Province’s share being a targeted 3.3 million to 3.45 million carats.
Continue reading at The Northern Miner.
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