News

Advanced Search

Mountain Province Production to Rise

Dec 22, 2019 7:24 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Mountain Province has forecast a rise in output next year amid a stabilization of demand and operational improvements at its Gahcho Kué mine.

The Canada-based miner will produce between 6.75 million and 6.95 million carats, up from the 6.7 million to 6.8 million carats it expects for 2019, it estimated. The projection for next year is higher than its earlier forecast of 6.6 million to 6.9 million carats.

“The company’s guidance for 2020 demonstrates that the operating margins remain healthy and the mine continues to generate free positive cash flow, providing better leverage to fund the potential expansion of all the assets within its portfolio,” Mountain Province CEO Stuart Brown said last week.

Mountain Province expects to achieve the upper end of its production forecast for 2019, and also reduced its costs during the year. 

While the second half of the year was challenging, there were signs of stabilization in the market, the company noted.

“Mountain Province’s prices over its last two sales have been positive,” Brown added.

Image: Trucks at Gahcho Kué. (Mountain Province)
Tags: Gahcho Kué, mountain province, Rapaport News, stuart brown
Similar Articles
EkatiTwo Parties Interested in Buying Dominion
Jul 07, 2020
Two companies have expressed interest in acquiring Dominion Diamond Mines, according to an affidavit by its former CEO
Alrosa Inter International mineVirus Cases Force Shutdown at Alrosa Mine
Jun 25, 2020
Alrosa has suspended operations at its International underground mine for up to two weeks after “several” employees
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.