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.
The Office of the Chief Public Health Officer in Canada’s Northwest Territories declared on Tuesday an outbreak of covid-19 at Mountain Province Diamonds’ (TSX: MPVD) Gahcho Kué operations, a joint venture with De Beers Canada in which the company holds 49% interest.
Four cases of covid-19 have been detected at Gahcho Kué, with three individuals exhibiting mild cold-like symptoms. Eight close contacts are in quarantine and have tested negative.
All other mine personnel have also tested negative following site-wide testing conducted on December 26.
On December 22, Gahcho Kué implemented heightened preventative measures on site, above the base-line safety measures due to the rapid spread of the omicron variant in Canada.
Mountain Province says the entire workforce at Gahcho Kué is fully vaccinated against the virus, and at this time, no material impact to production is expected.
Gahcho Kué, located 300 km east-northeast of Yellowknife and 230 km south of the Arctic Circle, consists of five kimberlites that are actively being mined and developed.
