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Gahcho Kué Mine Reaches Commercial Production

Mar 2, 2017 9:44 AM   By Rapaport News
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RAPAPORT... The Gahcho Kué mine in Canada achieved commercial production on Thursday, joint owners De Beers and Mountain Province Diamonds reported.

This means the mine is capable of operating in the manner its management intended, the companies said in a joint statement Thursday.

“Today marks a significant landmark for De Beers in Canada as Gahcho Kué becomes an important contributor to the group’s global production,” said Bruce Cleaver, chief executive officer of De Beers.

Production ramp-up began on August 1 of last year, with the mine officially opening on September 20. The project is expected to produce about 54 million carats of rough diamonds over its lifetime and add $3.97 billion (CAD 5.3 billion) to the economy of Canada’s Northwest Territories, according to the statement.

De Beers owns 51 percent of the mine, with Mountain Province holding the rest.
Tags: Bruce Cleaver, Canada, De Beers, Gahcho Kué, mountain province, Mountain Province Diamonds, northwest territories, Production, Rapaport News, Rough Production
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