Mountain Province Produced 5.52 million Carats in 2022

Mountain Province Diamonds has announced production and sales results for Q4 and 2022 from the Gahcho Kué Diamond Mine.

According to Rough & Polished, during Q4, 1,621,800 carats were recovered. For the full year 2022, 5.52 million carats were recovered (less than the guidance of 5.60 – 5.80 million carats). In 2022, approximately 2.7 million carats were sold at an average value of $112 per carat for total proceeds of $297.3 million. This compared to 3.2 million carats sold at an average value of US $75 per carat for total proceeds of US$236.9 million in FY 2021.

“After a very challenging start to the year, primarily due to a spike in Covid cases at the GK Mine, a detailed recovery plan was developed and executed resulting in quarter over quarter improvement through 2022 […] We now enter the 2023 cold weather and ice road resupply season with good momentum and a backdrop of a resilient rough diamond market” Mark Wall, the company’s President and CEO, commented.

Source: Mountain Province
Photo Credit: MP