Canadian miner Mountain Province has raked in $81 million in the third quarter of the year – its highest quarterly revenue since it was founded in 1986, IDEX Online reports. This constitutes a 9% rise year-on-year.
Mountain Province, which jointly operates the Gahcho Kue mine with De Beers Canada, sold 805,227 carats during the quarter, a 37% increase quarter-over-quarter, and produced 22% more carats (1,451,453 carats) compared to last quarter.
“Though rough diamond market prices have stabilized compared to the strong gains achieved in H1 2022, the company’s sales continue to show resiliency,” the miner said in a statement. “The action plan in place is incrementally delivering the required improvements. This improving performance, coupled with our very strong performance during the quarter, places the company in a strong position as we enter the final quarter of the year.”
