With the Gahcho Kué diamond mine more than 90% complete, De Beers Canada and 49% joint venture partner Mountain Province Diamonds’ (TSX: MPV; NASDAQ: MDM), are on the home stretch towards developing the project, 280 km northeast of Yellowknife.
On track for production in the second half of this year, De Beers Canada CEO Kim Truter says that Gahcho Kué will become the company’s second largest producer behind its Jwaneng mine in Botswana, which produced 9.8 million carats last year.
“Gahcho Kué is the largest new diamond mine in the world, and certainly our flagship mine in Canada,” Truter says during a phone interview.
“The way we’re building it will make for a very efficient business, so therefore we need to match it with a very efficient organization.”
The $1-billion, open pit mine is scheduled to deliver an average of 4.5 million carats a year over a 12-year mine life from three kimberlite pipes — 5034, Hearne and Tuzo.
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