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(101) stories found containing 'Mountain Province Diamonds'


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  • Mining Explorers 2018 Northwest Territories NWT mining and mineral exploration

    Explorers guard 2018 spending

    Rose Ragsdale, For Mining News|Updated Oct 28, 2020

    Explorers seeking new mineral discoveries in the Northwest Territories are expected to spend less in 2018 than the C$90 million they shelled out collectively last year. Natural Resources Canada projects spending this year for mineral exploration and deposit appraisals in the northern territory will total C$81.3 million. But some observers expect to see an uptick in hardrock mining exploration in 2018, especially in the highly prospective Slave Province where the Northwest... Full story

  • 60 carat yellow diamond Mountain Province De Beers Gahcho Kué mine NWT

    Mountain Province finds diamond buyer

    Shane Lasley, Mining News|Updated Sep 26, 2020

    Mountain Province Diamonds Inc. June 8 announced it has found a buyer of US$50 million of diamonds in a market otherwise closed to the sale of the gems due to COVID-19. Mountain Province owns a 49% joint venture interest in the Gahcho Kué diamond mine in Canada's Northwest Territories – De Beers Canada Inc. owns the remaining 51%. As its sole producing asset, Mountain Province relies on the sale of its share of Gahcho Kué diamonds to fund its portion of the operation, as wel... Full story

  • Kimberlite discovery at Gahcho Kué Mine

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. July 11 announced the discovery of a new kimberlite roughly 200 meters east of the planned open pit mining area for the Tuzo kimberlite on the Gahcho Kué Mine property in Northwest Territories. Named after Alice Evelyn Wilson (1881-1964), who is officially recognized as Canada's first female geologist, Wilson is the first kimberlite discovered on Mountain Province (49 percent) and De Beers Canada's (51 percent) Gahcho Kué joint venture p...

  • Gahcho Kué diamond mine JV Mountain Province De Beers Canada NWT

    More valuable diamonds found at Faraday 2

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. April 11 reported an increase in the tonnage and grade of the diamond resource at the Faraday 2 kimberlite on the company's Kennady North project in Northwest Territories. Located adjacent to the Gahcho Kué diamond mine property, which is owned by a joint venture between Mountain Province Diamonds (49 percent) and De Beers Canada (51 percent), Kennady North is a diamond exploration property that hosts three kimberlites with delineated resources...

  • Mountain Province Diamonds De Beers Gahcho Kué Kennady North NWT

    Mine co-owner seeks diamonds next door

    Rose Ragsdale, For Mining News|Updated Sep 25, 2020

    The quest for diamonds at the Kennady North project next door to the Gahcho Kué Mine in Northwest Territories got a boost on Feb. 27 when owner Mountain Province Diamonds Inc. reported plans to begin its 2019 winter exploration program on the 67,432-hectare property. Kennady North covers a portion of the southeastern Slave Geological Province in Northwest Territories within the Kelvin-Faraday Corridor, a northeast-southwest structural feature that continues to the southwest an...

  • Gahcho Kué Kennady North diamond exploration drilling

    Seeking new kimberlites SW of Gahcho Kué

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. Feb. 27 announced that it has begun a winter exploration program targeting new kimberlite prospects at Kennady North, a diamond property that borders the Gahcho Kué diamond mine property owned by Mountain Province (49 percent) and DeBeers Canada (51 percent). Mountain Province gained full ownership of this property with the acquisition of Kennady Diamonds Inc. in 2018. Prior to the buyout, Kennady Diamonds had identified a series of...

  • Gahcho Kué churns out 60.6 ct yellow gem

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. Jan. 31 announced that a 60.59-carat, fancy vivid yellow rough diamond recovered at the Gahcho Kué Mine in Northwest Territories will be included in a February diamond sale. Reid Mackie, vice president, diamond marketing, Mountain Province Diamonds said "the discovery of this diamond demonstrates our ability to produce very large, high quality, fancy colored diamonds. We are thrilled to be able to include it in our upcoming sale and present...

  • Debeers Canada, Mountain Provinces diamond mines NWT

    Gahcho Kué outlook: 20M carats over 3 yrs

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. Nov. 27 forecast that the Gahcho Kué Mine in Northwest Territories will produce between 6.6 million and 6.9 million carats of diamonds in 2019 and the company expects the diamond output from this operation to remain steady through 2021. Owned by Mountain Province (49 percent) and De Beers Canada (51 percent), the Gahcho Kué Mine began commercial production in 2017. Through the first nine months of 2018, the Gahcho Kué Mine produced 5.4 mi...

  • Canada Territorial economic outlook, gold mines drive growth Nunavut

    Mines drive growth across Canada's North

    Shane Lasley, Mining News|Updated Sep 25, 2020

    New gold mines are expected to drive strong economic growth in Nunavut and Yukon over the next several years, according to the latest Territorial Outlook published by The Conference Board of Canada. The non-profit think tank focused primarily on researching and analyzing economic trends, however, forecasts a shrinking economy for Northwest Territories as the diamond sector there matures. Despite a tepid recovery for the mining sector as a whole, the new mines being developed...

  • Diamond Mine NWT

    Excellent diamond grades for Gahcho Kué

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. Oct. 23 reported that the Gahcho Kué Mine in Northwest Territories recovered 1.82 million carats of diamonds during the third quarter. Owned by Mountain Province (49 percent) and De Beers Canada (51 percent), the Gahcho Kué Mine began commercial production in 2017. During the quarter ended Sept. 30, Gahcho Kué processed 759,000 metric tons of material averaging 2.4 carats per metric ton during the quarter. This is 8 percent less than the same pe...

  • NWT mining mineral exploration outlook, challenges opportunities

    Territory stumbles in race for riches

    Rose Ragsdale, For Mining News|Updated Sep 25, 2020

    Northwest Territories may fall behind Canada's two other territories in mining activity in the near-future, but projects underway in the northern jurisdiction hold substantial promise for mid- to long-term gains, especially if many current roadblocks come down. "Optimism is warranted for the territory's mining sector and the broader economy it drives," said Wally Schumann, minister of industry, tourism and investment for the Government of Northwest Territories. But...

  • De Beers Canada diamond mine project in Nunavut

    De Beers agrees to buy Peregrine Diamonds

    Updated Sep 25, 2020

    Peregrine Diamonds Ltd. July 19 announced that De Beers Canada Inc. has agreed to buy the exploration company in a cash deal worth roughly C$107 million. Under the terms of the agreement, De Beers is to acquire all of Peregrine's outstanding common shares for C24 cents each, a 50 percent premium to Peregrine's share price of C16 cents on July 18. In May, Peregrine Diamonds published an updated preliminary economic assessment for its Chidliak project in Nunavut that envisions...

  • Newest diamond mine in Canada De Beers large gem diamonds

    95-carat gem boosts Mountain Province sale

    Updated Sep 25, 2020

    Mountain Province Diamonds Inc. June 28 reported US$30.3 million in proceeds from its latest sale of diamonds from the Gahcho Kué Mine. This is the fifth sale of 2018 and the Toronto-based company has brought in US$137.4 million so far this year from selling its share of the diamonds from the Northwest Territories operation. Owned by Mountain Province (49 percent) and De Beers Canada (51 percent), the Gahcho Kué Mine began commercial production in 2017. Through the end of May,...

  • Copper mining, Pembridge Resources

    Mining fuels economic growth in the North

    Shane Lasley, Mining News|Updated Sep 25, 2020

    Mining is expected to fuel strong economic growth in Nunavut and Yukon in the coming years, according to The Conference Board of Canada's latest Territorial Outlook. "With many new mining projects on the horizon in Nunavut and Yukon, growth is expected to take off over the next five years," said Marie-Christine Bernard, director, provincial and territorial forecasting, The Conference Board of Canada. The conference board's outlook for Northwest Territories, however, is not... Full story

  • Northwest Territories diamond newest large diamond mine

    Mountain Province buys Kennady Diamonds

    Updated Sep 24, 2020

    Mountain Province Diamonds Inc. April 13 completed its acquisition of Kennady Diamonds Inc. in an all-share deal worth roughly C$176 million. Kennady Diamonds owns Kennady North, a rapidly advancing diamond project about seven kilometers (4.5 miles) northeast of Gahcho Kué – a mine owned by Mountain Province (49 percent) and De Beers Canada (51 percent). Since being spun out of Mountain Province in 2012, Kennady has identified a series of diamond-rich kimberlites along a co...

  • Margaret Lake plans for diamond drilling

    Updated Sep 24, 2020

    Margaret Lake Diamonds Inc. March 12 said it is putting together plans for potential 2018 drill programs at its Margaret Lake and Diagras diamond properties in the Northwest Territories. The company said it has identified six drill targets at Margaret Lake, a 23,199-hectare property adjacent to the north and west of Kennady Diamonds Inc.'s Kennady North property and about nine kilometers (5.5 miles) north of Gahcho Kué, a diamond mine recently brought into production under a joint venture between De Beers Canada and...

  • Kennady Diamonds eyes exploration targets

    Updated Sep 24, 2020

    Kennady Diamonds Inc. Feb. 5 announced that crews have mobilized for a roughly 10,500-meter winter drill program at its Kennady North diamond project in Northwest Territories. Around 60 percent of this program will investigate high priority exploration targets along the Kelvin-Faraday corridor, a trend of diamond-bearing kimberlites that extend from the northern border of De Beers Canada and Mountain Province Diamond's Gahcho Kué property some 3,000 meters onto the Kennady...

  • Mountain Province, Kennady Diamonds reunite

    Updated Sep 24, 2020

    Mountain Province Diamonds Inc. Jan. 29 announced a definitive agreement to acquire Kennady Diamonds Inc. under a friendly all-share deal worth roughly C$176 million. Kennady Diamonds owns Kennady North, a rapidly advancing diamond project about seven kilometers (4.5 miles) northeast of Gahcho Kué – a mine owned by Mountain Province (49 percent) and De Beers Canada (51 percent). Since being spun out of Mountain Province in 2012, Kennady has identified a series of diamond-rich...

  • Bumpy ride ahead for NWT mining

    Rose Ragsdale, For Mining Explorers|Updated Aug 14, 2020

    While mining activity remained strong in the Northwest Territories in 2019, industry and government officials alike worried that the robust sector, driven largely by production at three diamond mines, has entered a prolonged downward slide. The near-term economic outlook for the territory, which covers 1.3 million square kilometers in Canada's central Arctic region, continues to be bleak as its diamond mines that have now passed peak production and replacement projects are in... Full story

  • Near mine find shows Gahcho Kué potential

    Shane Lasley, Mining News|Updated Aug 14, 2020

    Since achieving commercial production at the Gahcho Kué Mine in 2017, Mountain Province Diamonds Inc. has resumed exploring for more diamonds across the wider property and Kennedy North, an adjacent property the company acquired full ownership of through its purchase of Kennady Diamonds Inc. in 2018. In June, Mountain Province announced the discovery of a new kimberlite roughly 200 meters east of the planned open pit mining area for the Tuzo kimberlite on the Gahcho Kué p...

  • The Washington Companies diamond mining company Canada NWT

    ME2018: Dominion Diamond Mines

    Updated Nov 23, 2018

    The Washington Companies, a group of privately held North American mining, industrial and transportation businesses founded by industrialist and entrepreneur Dennis Washington, acquired Dominion Diamond Corp. in a deal worth US$1.2 billion. "We look forward to owning and operating Dominion for decades to come, with a focus on maintaining safe and prosperous business operations in the Northwest Territories," said Washington. When the deal closed, Patrick Evans, who previously... Full story

  • Washington Companies buys Dominion Diamond

    Shane Lasley|Updated Jan 25, 2018

    Dominion Diamond Corp. Nov. 1 announced that it has closed the deal to sell all of its outstanding shares to The Washington Companies for US$14.25 per share, worth roughly US$1.2 billion. Founded by billionaire Dennis Washington, The Washington Companies is a group of privately held North American mining industrial and transportation businesses. "This is an exciting day for Dominion Diamond and The Washington Companies," said Washington President Lawrence Simkins. "We fully su... Full story

  • Mining Explorers 2017: Discovering NWT's mining future

    Shane Lasley, Mining News|Updated Jan 24, 2018

    With the opening of Gahcho Kué, Northwest Territories is reaping the rewards of past exploration spending across the vast diamond-rich expanse of northern Canada. In fact, the new diamond mine is expected to contribute some C$5.7 billion to Northwest Territories economy by 2028, the end of its currently projected life, according to a report commissioned by De Beers Group of Companies. Northwest Territories Minister of Industry, Tourism and Investment Wally Schumann... Full story

  • Mining Explorers 2017: Kennady Diamonds Inc.

    Updated Jan 24, 2018

    Kennady Diamonds Inc. is a Toronto-based explorer focused on Kennady North, a rapidly advancing diamond project located about seven kilometers (4.5 miles) northeast of Gahcho Kué - a mine owned by De Beers Canada and Mountain Province Diamonds Inc. Kelvin, the most advanced kimberlite on the property, hosts an indicated resource of 13.62 million carats of diamonds contained in 8.5 million metric tons of kimberlite averaging 1.6 carats per metric ton, according to a maiden...

  • Large gem diamond found at Gahcho Kué

    Shane Lasley|Updated Feb 12, 2017

    Mountain Province Diamonds Inc. Feb. 6 reported the recovery of a 67.87 carat gem quality diamond during the ramp-up of production at the Gahcho Kué Mine. This is the largest gem quality diamond recovered so far at this newest mine in the Northwest Territories. "The presence of large gem quality diamonds at Gahcho Kué was established during the bulk sampling when a 25.13 carat octahedron was recovered," reminded Mountain Province President and CEO Patrick Evans. "The r...

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