DIAMONDS: Gahcho Kue receives land use permit, water licence

NORTHWEST TERRITORIES – The Mackenzie Valley Land and Water Board has issued the type A land use permit and type A water licence for the Gahcho Kué diamond project near Lac de Gras. The project is a joint venture of De Beers Canada (51% and operator) and Mountain Province Diamonds (49%).

These were the last two permits necessary to move forward with construction and eventually production in the second half of 2016. The construction, working and sustaining capital estimate is between $600 million and $650 million.

Additional details are available at Canada.DeBeersGroup.com.