Mountain Province Diamonds Inc. July 7 reported that development of the Gahcho Kué diamond mine is progressing according to plan and budget with the overall project roughly 62 percent complete at the end of May. Key areas of focus are continued dewatering to expose the kimberlites, the placement of concrete foundations and the erection of steel superstructures of the major facilities.

A key milestone is to ensure that the process plant building is enclosed by October.

Gahcho Kué, located about 300 kilometers (186 miles) northeast of Yellowknife, Northwest Territories, is a joint venture between De Beers Canada (51 percent) and Mountain Province Diamonds (49 percent).

Mountain Province President and CEO Patrick Evans said the project is "on track for first production in (second half) 2016." According to a feasibility study completed last year, the Gahcho Kué Mine is anticipated to produce 53.4 million carats of diamonds over a 12-year mine-life.

There are currently some 500 employees and contractors on site at Gahcho Kué, and this number is expected to peak at about 650 during the third quarter of 2015.

During production, Gahcho Kué will employ about 400 workers.

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