Mountain Province Diamonds has announced improved production and sales results for the first quarter of 2020, though their sales are currently on hold. In Q1 2020, Mountain Province sold 659,318 carats at an average value of $99 per carat (US$75 per carat) for total proceeds of $65.4 million (US$49.2 million) in comparison to 643,739 carats sold at an average value of $94 per carat (US$71 per carat) for total proceeds of $60.7 million (US$45.8 million) in Q1 2019.
Dominion Diamond Mines and its owner The Washington Companies has appointed Patrick Merrin to be its new interim chief executive officer, taking over from Shane Durgin who has left Dominion to “pursue other opportunities,” according to Dominion’s statement. He is the miner’s third CEO since The Washington Companies took over the Canadian diamond miner in November 2017 for $1.2 billion, acquiring all of the issued and outstanding common shares of Dominion for US$14.25 pe
With its share price last topping $1.00 on October 28, 2019, Canadian miner Mountain Province Diamonds (MPD) has notified the Nasdaq Stock Market of its intention to voluntarily delist its common shares from the Nasdaq Stock Exchange (NASDAQ). MPD's shares will continue to trade on the Toronto Stock Exchange (TSX) after the NASDAQ delisting becomes effective on or around February 11. The miner had already indicated last August that delisting was imminent.
North Arrow Minerals and joint venture partner and operator Dominion Diamond Mines have said that mobilization is underway for the summer field program, including exploration drilling, at the Lac De Gras (LDG) Joint Venture Diamond Project in the Northwest Territories. The LDG Project is located in the Lac de Gras kimberlite field, close to two of the world’s richest diamond mines: Diavik and Ekati. Summer exploration work is scheduled to include LIDAR (Light Detection and Ranging) surveying, till suitability mapping and sampling and approximately 1,000m of exploration drilling.
Arctic Star Exploration Corp. of Vancouver has begun this year’s exploration program at the 40% owned Diagras joint venture diamond property in Lac des Gras, Northwest Territories, Canada (NWT). Margaret Lake Diamonds holds the remaining 60% and is the project operator. Preliminary results have been "encouraging."
Rio Tinto and Dominion Diamond Mines have announced the recovery of the largest known gem-quality diamond ever found in North America. The 552-carat yellow diamond was unearthed in October at the Diavik Diamond Mine, approximately 135 miles south of the Arctic Circle in Canada’s Northwest Territories. Measuring around 3cm by 5.5cm, it is said to be about the size of a chicken egg. "A diamond of this size is completely unexpected for this part of the world and marks a true milestone for diamond mining in North America and Canadamark diamonds overall," the companies said in a statement.
Rio Tinto yesterday celebrated the opening of a fourth diamond pipe, known as A21, at the remote subarctic Diavik Diamond Mine in the Northwest Territories of Canada, the miner announced in a press release. The new open pit pipe will provide an important source of incremental supply over the next four years to sustain production levels at the Rio Tinto operated mine. The A21 pipe is located adjacent to Diavik’s existing mining operations at Lac de Gras.
Canada’s Mountain Province Diamonds second quarter output at the Gahcho Kué mine jumped by 20 percent to 1.9 million carats compared with 1.6 million carats a year earlier as plant optimization led to better-than-anticipated performance, and recovered grade continues to outperform expectations. The plant treated 899,000 tons during the quarter, 17% ahead of the same quarter last year despite a decline in ore tons mined, and achieved a higher average grade.
Dominion Diamond Mines will hold an online auction of its latest production of fancy colour and +10.8 carat rough diamonds, in co-operation with I. Hennig Tenders, on Thursday, 19 July 2018. Dominion says the most recent production from the Misery kimberlite pipe, of the Ekati Diamond Mine in the Northwest Territories of Canada, has delivered a quantity of exceptional yellow fancy colour stones, which will be presented for sale at the upcoming auction.
Mountain Province Diamonds this morning announced the recovery of a 95 carat gem diamond from the Gahcho Kué mine located in the Northwest Territories, Canada. The diamond was included in the fancies and specials parcel acquired by Mountain Province in the most recent Gahcho Kué production split (Mountain Province owns 49% and De Beers Canada 51% of Gahcho Kué run-of-mine production; they bid monthly on the fancies and specials recovered, with the winning bidder entitled to market those diamonds).
Canadian miner Mountain Province Diamonds (49% participant with De Beers Canada in the Gahcho Kué diamond mine in Canada’s NWT) announced the results of its recently completed fourth diamond tender sale of 2018. Total proceeds from the sale were US$28.3 million, the highest total for any Antwerp tender result to date. The miner said that market sentiment remained positive coming out of the April holidays and into the fourth selling cycle, while customer participation was healthy with 191 companies attending the tender in Antwerp and an average of 12.4 bids received per lot.
Dominion Diamond Mines announced last week that it would once again be delaying expansion of its Ekati mine in the Northwest Territories, which had been schduled to commence this year, extending the Ekati mine's life to 2033. They said the work planned for this year has been put on hold while the company studies how the project's profitability can be increased, according to CBC News. Dominion did not say how this delay would affect the overall timeline for the Jay pipe, which was expected to begin production in 2021.
Kennady Diamonds, a Canadian diamond exploration company headquartered in Toronto, has reported a maiden Inferred Mineral Resource (IMR) of more than 5.02-million carats for the Faraday kimberlites at the Company’s 100 percent owned Kennady North Project in Canada’s Northwest Territories, the company announced in a press release. The IMR result builds significantly on their Kelvin Indicated Resource of 13.62 million carats and, "represents another significant step in the advancement of our Kennady North Project", said President and CEO of Kennady Diamonds Dr. Rory Moore.
Dominion Diamond Corporation yesterday announced that its, "Shareholders overwhelmingly approved the previously-announced plan of arrangement pursuant to which Northwest Acquisitions ULC, an entity affiliated with The Washington Companies, has agreed to acquire all of the issued and outstanding common shares of the Company for US$14.25 per share in cash." In other words, shareholders are expected to receive $14.25 US per share in cash when the acquisition closes. The aquisition arrangement is worth a total of US$1.2 billion.
Canadian miner Mountain Province Diamonds Inc., a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, today announced its recently completed seventh diamond sale in Antwerp was the largest to date in terms of volume and value.
Dominion Diamond Corporation reported their financial and operational results for the second quarter fiscal 2018 which ended on July 31, 2017. The results were in line with expectations, consolidated carats produced increased 72% to 2.6 million carats in the second quarter from 1.5 million carats for the same period a year earlier due to higher tonnes processed and a focus on high-grade Misery Main ore at the Ekati mine, with steady performance at the Diavik Diamond Mine.
Canada's Dominion Diamond Corporation, is considering an investment to extend the Ekati mine by going underground at the Fox pit. According to a preliminary economic assessment (PEA) the expansion is expected to extend mine operations by seven years. The current mining plan accounts for Ekati to operate till 2035, with production coming from six open pits and two underground operations.
Canadian junior miner Peregrine Diamonds announced that it has completed drilling of three diamond holes at its 100%-owned Chidliak Diamond Project near Iqaluit, Nunavut, Canada. The total number of metres drilled was 1,474. Tom Peregoodoff, Peregrine’s President and CEO, commented: “We are extremely pleased with the drill results to date. It is especially encouraging to see that DD38 confirms the result from DD33 and that the CH-6 kimberlite is expanding in size with depth.
Mountain Province Diamonds - a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories - reports strong interest in Antwerp for Gahcho Kué Diamonds in Q2 2017 (ended June 30, 2017), despite a challenging rough diamond market. For the three months of Q2, MPD reported a net income of US$6 million (C$7.6 million) or US$0.39 (C$0.05) per share.
Mountain Province Diamonds, a Canadian junior miner and 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, sold 290,000 carats of rough diamonds valued at $20.9 million at its sixth tender sale of the year in July.
After months of speculation and a rejected takeover attempt, Canadian miner Dominion Diamond Corporation has entered into an arrangement agreement with The Washington Companies to acquire all of Dominion’s outstanding common shares for US$14.25 per share in cash, or a total equity value of approximately US$1.2 billion. The transaction represents a 44 percent premium to Dominion’s unaffected share price of US$9.92 on March 17, 2017. Dominion rejected Washington's initial advance of $1.1 billion, or $13.50 a share last March, calling it "opportunistic" and saying it undervalued the company.
Canadian junior miner Peregrine Diamonds has completed final preparations for the 2017 work program at its 100%-owned Chidliak Diamond Project near Iqaluit, Nunavut, Canada. Core drilling at the CH-6 pipe, slated to commence on July 5, will further delineate the kimberlite, with the objective of expanding the high grade CH-6 resource to a depth of 500 metres below surface. The current depth of the Inferred Resource in the 2016 Preliminary Economic Assessment (PEA) is 260 metres.
Canadian junior miner Kennady Diamonds has announced "positive" diamond recovery results from sampling from the Faraday 3 and Faraday 1 kimberlites on its Kennady North Project, including the largest high-quality diamonds to date on the project, with a 7.78ct white gem-quality stone as well as numerous diamonds exceeding one carat. The samples were collected during the winter 2017 program that was designed to further delineate both kimberlites as well as to recover sufficient carats from Faraday 3 for valuation. The company summarizes the most relevant results as follows:
Mountain Province Diamonds - a 49% participant with De Beers Canada in the Gahcho Kué diamond mine - today announced that CEO Patrick Evans has left the company, and has appointed David Whittle as interim president and CEO. According to a company statement, Evans' departure was a mutual decision. Evans served as CEO of Mountain Province for 11 years, and will continue as a director of the company as well as provide assistance to facilitate the transitional period.
Dominion Diamond Corporation has consolidated its interest in the Buffer Zone Joint Venture at the Ekati Diamond Mine in Canada’s Northwest Territories through a buyout agreement with Archon Minerals Limited, its partner in the venture. The Buffer Zone contains 106 mining leases covering 89,184 hectares, and is contiguous with the Core Zone Joint Venture at the Ekati Diamond Mine. Of the 150 kimberlite pipes discovered to date at the Ekati Diamond Mine, 38 are in the Buffer Zone.
Mountain Province Diamonds, a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada’s Northwest Territories, has unearthed the largest stone thus far produced by the mine: an 84.65 carat gem quality diamond. It also announced the recovery of a 53.90 carat gem quality diamond. The joint venture partners bid for the production of fancy coloured and special (+10.8 carat) diamonds on almost a monthly basis.
Canadian junior miner Kennady Diamonds, whose Kennady North diamond project is located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, announced the terms of a non-brokered private placement whereby the Company plans to raise approximately C$10,000,000 (US$7.3 million) through the issuance of a combination of common shares and flow-through common shares. The common shares to be issued under the offering have been priced at C$3.25 per share and the flow-through common shares have been priced at C$4.38 per share.
Dominion Diamond Corporation on Friday March 31 filed an updated technical report for the Diavik Diamond Mine that extends the life of the mine two years and raises production estimates going forward. The mine in the Northwest Territories, in which Dominion has a 40% interest and Rio Tinto plc has a 60% interest and operates the mine through DDMI (Diavik Diamond Mines Inc.) will continue to produce until 2025 instead of ending its active life in 2023.
Rio Tinto press release: Rio Tinto has appointed Patrick Boitumelo as President and Chief operating officer, Diavik Diamond Mines. "Patrick has extensive operational, stakeholder management and corporate strategy experience at a senior level across a number of businesses in the mining industry, including diamonds, soda ash and salts, nickel, iron ore, copper and copper by-products. Most recently he was general manager of engineering and projects at Kennecott Utah Copper in Salt Lake City, Utah, USA."
Canadian diamond miners Dominion Diamond Corp and Stornoway Diamond Corp have held talks about a potential merger in recent months, reports Reuters. The people that disclosed the matter declined to be named as the discussions are private. "The talks include Stornoway's chief executive officer and president, Matt Manson, becoming CEO of the merged group, one source said, adding that the discussions on an all-share merger started in January.
Winnipeg geologists discovered the very first micro-diamonds in the Manitoba province in Canada. The discovery was made by an informal consortium of Manitoba and Alberta prospectors in the northeastern part of the province.
Canadian junior miner Kennady Diamonds whose Kennady North diamond project is located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, has completed the bulk sampling program on the Faraday 2 pipe with approximately 265 tons of kimberlite collected from 29 large diameter drill holes. The two reverse circulation drill rigs are now focused on the nearby Faraday 3 kimberlite and have commenced drilling with the target of collecting a 300 ton sample from this pipe. Kennady Diamonds President and CEO, Dr.
Gahcho Kué, the world’s largest new diamond mine in the last 13 years, officially began commercial production today (2 March 2017), De Beers announced in a press release. The mine, a joint venture with De Beers Group (51%) and Mountain Province Diamonds (49%), is expected to produce approximately 54 million carats of rough diamonds over its lifetime. Production ramp up began on 1 August 2016 and the official opening ceremony took place on 20 September 2016. Bruce Cleaver, CEO, De Beers Group, said: “Today marks a significant landmark for De Beers in Canada as Gahcho Kué becomes an important
Kennady Diamonds Inc., which controls 100 percent of the Kennady North diamond project located in Canada’s Northwest Territories in proximity to the Gahcho Kué Diamond Mine, announced that their bulk sampling of the Faraday 2 kimberlite is progressing well with 12 drill holes completed and 100 tons of kimberlite collected since the program began on January 20. Kennady plans to recover a total of approximately 570 tons of kimberlite from the Faraday kimberlites during the 2017 winter program, including 260 tons from Faraday 2, 300 tons from the Fa
De Beers is shelving immediate plans to study an expansion project, called Tango, at its Victor diamond mine in northern Ontario after failing to get support from a neighboring aboriginal community, writes Reuters.
Mountain Province Diamonds, the co-owner (49%) with De Beers (51%) of the Gahcho Kué Mine in Canada's Northwest Territories, has announced the recovery of a 67.87 carat gem quality octahedron diamond during production ramp-up at the diamond mine. It is the largest gem quality diamond recovered at Gahcho Kué to date. “The presence of large gem quality diamonds at Gahcho Kué was established during the bulk sampling when a 25.13 carat octahedron was recovered”, noted Patrick Evsans, Mountain Province President and CEO.
Mountain Province Diamonds Inc. announced their production results from the Gahcho Kué Diamond Mine for the fourth quarter which ended on December 31, 2016, the mine is a joint venture with De Beers (51%), located in Canada's Northwest Territories. In addition, they announced the completion of their first diamond sale held between January 16 and 25 in Antwerp, Belgium.
As first announced last February, De Beers is moving ahead with its plans to flood the underground workings of Snap Lake Mine as part of its extended care and maintenance program for the mine in Canada's Nortwest Territories, which began in December 2015.
Kennady Diamonds, developer and owner of the Kennady North diamond project in Canada’s Northwest Territories, has announced a maiden indicated Mineral Resource of 13.62 million carats of diamonds contained in 8.50 million tons of kimberlite, with an overall grade of 1.60 carats per ton and an average value of US$63 per carat. The Kelvin kimberlite is located approximately 280 kilometers east-northeast of Yellowknife, and is immediately adjacent to the Gahcho Kué Diamond Mine operated by the De Beers Group and Mountain Province Diamonds Inc.
After being shuttered for several years, New York-based company Almod Diamonds Limited says it plans on opening a diamond polishing and manufacturing factory in Yellowknife in as little as three months. The agreement was announced by Industry, Tourism and Investment Minister Wally Schumann Monday morning. “Diamond polishing and manufacturing is something that has created jobs and economic opportunity in diamond-producing jurisdictions all over the world,” said Schumann.