MDM MentionedMDM Mentioned on pennystocklive.com Website
https://www.pennystocklive.com/Article/orfg-pk-amexnsu-nysemdm-gold-and-diamond-mining-companies-latest-releases/
Mountain Province Diamonds (NYSE:MDM) and De Beers Canada are joint venture partners in the Gahcho Kué project in Canada’s Northwest Territories. Gahcho Kué is the largest new diamond mine under development globally. Through its partnership with De Beers, the Company is well placed to capitalize from the experience of the world’s largest diamond producer.
The Gahcho Kué project is located in Canada, the third largest, and politically most stable, diamond producing country. By the time the Gahcho Kué mine reaches full production, it is projected that diamond prices will have risen sharply as a result of a predicted US$5 billion diamond supply deficit.
The Gahcho Kué diamond project is located on federal land in Canada’s Northwest Territories and is held by the Gahcho Kué Joint Venture under renewable 21 year leases. The project is on a 74,128 acre site located at Kennady Lake, approximately 300 kilometres northeast of Yellowknife and 90 kilometres east of De Beers’ Snap Lake diamond mine.
Diamond mines are extremely rare, and the world supply is expected to remain essentially flat over the next few decades as demand increases. New supply is in high demand. Canada is the first country in the developed world to produce and market high quality diamonds, and is benefiting from an increasingly important role in the global market.