Mountain Province, which operates the Gahcho Kué diamond mine in Canada’s Northwest Territories, has announced almost static profits during the second quarter (ended June 30, 2022) “as higher per-carat prices made up for a steep fall in sales volume,” IDEX Online reports.
Volume of carats sold during the period was down 18% year-on-year, but the average price per carat leapt from $82 to $131 – a 60% jump year-on-year. Profit for the quarter was $17.7 million, and profit for H1 was up 58% year-on-year to $39.2 million.
Mark Wall, president and CEO of Mountain Province, said it was a “strong financial performance” but noted: “There remain other areas of the operational performance that do not meet our expectations. We continue to actively engage with De Beers as the operator around the plan to deliver these improvements.”
