Industry News by Nemesis

Higher Grades Boost Mountain Province

July 24, 2018

 

Production at the Gahcho Kué mine increased 20% year on year to 1.9 million carats in the second quarter, as the asset yielded higher-grade recovery. 

“The second-quarter performance continues to follow the trend of ongoing excellent performance set by the Gahcho Kué mine team, in a safe and sustainable manner,” Stuart Brown, CEO of Mountain Province, which owns the mine in a joint venture with De Beers, said last week. “We expect this trend to continue as we enter the second half of the year.” 

The plant treated 899,000 tonnes of ore during the 12 weeks ending June 30, a 17% rise over the same period last year, the miner said. The grade recovered increased 2% to 2.15 carats per tonne.

Mountain Province’s share of production was 946,000 carats from its 49% ownership of the Gahcho Kué project. De Beers holds the remaining 51%.

The company expects to achieve the upper end of its full-year production estimate of 6.3 million to 6.6 million carats.

 

Source: Rapaport

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