In a news release on Tuesday, Mountain Province Diamonds (MPD) said that development of the Gahcho Kué diamond mine is progressing according to plan and budget with the overall project more than 70% complete. MPD CEO Patrick Evans added that the mine "continues to meet our lending group's tests-to-completion and further draw-downs against the company's $370 million project finance facility have been approved." The company expects to have drawn down a total of $158 million of the loan facility by the end of 2015. The Gahcho Kué diamond mine is located in the Canadian tundra in the Northwest Territories. It is a joint venture between MPD (49%) and De Beers Canada (51%).