Mountain Province Releases Updates for Gahcho Kué Diamond Mine Development, Canada
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Mountain Province Diamonds Inc. have released updated for the Gahcho Kué diamond mine. The mine is progressing according to plan and revised budget with the overall project approximately 94 percent complete and on track for first production during H2 2016.
“We continue to make excellent progress at Gahcho Kué. Mechanical completion has been achieved at the process plant and truck shop and we are on schedule to achieve mechanical completion of the primary crusher during the current quarter. Key areas of focus are commissioning of the diamond process plant, remaining earthworks, pre-stripping and stockpiling of kimberlite as well as preparations for operational readiness,” said Patrick Evans, president and CEO of Mountain Province.
“The project also continues to meet our lending group’s tests-to-completion with US$47 M advanced to fund cash calls during Q2 2016. A total of US$266 M has been drawn against the US$370 M facility,” added Evans.
About Mountain Province
Mountain Province Diamonds is a 49 percent participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories. Gahcho Kué is the world’s largest new diamond mine and projected to be amongst the highest margin diamond mines due to the high grade and open-pit nature of the operation.
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