Aerial prospecting, Canada

GAHCHO KUE DIAMOND MINE TO BECOME FULLY COMMERCIAL PRODUCTION IN 6 WEEKS

De Beers and Mountain Province Diamonds have announced that the Gahcho Kue diamond mine, in Canada’s Northwest Territories, will reach full commercial production over the next six weeks, Mining Weekly reports.

 

The mine is anticipated to have a 13-year life span, and output will total an average of 4.5 million carats per year.

 

Earlier this week, De Beers published its 2016 report, showing its total revenue jumped 30% to $6.1 billion in 2016, driven by higher rough diamond sales. These increased by 37% to $5.6 billion. The miner reported a 50% increase in consolidated sales volumes to 30 million carats – compared with 19.9 million carats in 2015. However, price per carat decreased from $207 in 2015 to $187 in 2016, “reflecting the 13% lower average rough price index, offset to some extent by an improved sales mix”, according to the report.

Other articles on the category

The branch news