Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Mountain Province Diamonds (TSX, NASDAQ: MPVD) said Wednesday it had found a 95-carat gem diamond at its Gahcho Kué mine located in Canada’s Northwest Territories.
It’s the largest gem quality diamond and the fourth biggest recovered from Gahcho Kué since production began just under two years ago.
The white octahedron of “top clarity” is the largest gem quality diamond and fourth largest stone ever recovered from the mine, the company said.
Gahcho Kué, Canada’s newest diamond mine and the world’s largest in the last 14 years, is a joint venture between De Beers and Mountain Province Diamonds (TSX:MPVD). It officially opened in September 2016, achieving commercial production last year.
The diamond was included in the fancies and specials parcel acquired by Mountain Province in the most recent Gahcho Kué production split.
It will be shown at the miner’s upcoming rough diamond tender with viewings to be held from June 11 through 22 in Antwerp, Belgium.
Gahcho Kué, co-owned by Mountain Province Diamonds and De Beers Canada, is located at Kennady Lake, about 280 km northeast of Yellowknife. (Image courtesy of De Beers Canada.)
