Mountain Province Diamonds Inc T.MPVD

Alternate Symbol(s): MPVDF

Metals & Mining Industrial Metals & Minerals

Mountain Province Diamonds Inc. is a Canada-based diamond company. The Company’s primary asset is its 49% interest in the Gahcho Kue Mine, a Joint Venture with De Beers Canada. The Gahcho Kue Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future development. The Company’s Kennady North Project includes approximately 113,000 hectares of claims and leases surrounding the Gahcho Kue Mine that include an indicated mineral resource for the Kelvin kimberlite and inferred mineral resources for the Faraday kimberlites. Kelvin is estimated to contain 13.62 million carats (Mct) at 8.50 million tons (Mt) at a grade of 1.60 carats/ton and a value of US$63/carat. Faraday 2 is estimated to contain 5.45Mct in 2.07Mt at a grade of 2.63 carats/ton and a value of US$140/ct. Faraday 1-3 is estimated to contain 1.90Mct to 1.87Mt at a grade of 1.04 carats/ton and a value of US$75/carat.

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Mountain Province Diamonds Inc

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Post by 12gaon Jan 17, 2020 9:16am

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Post# 30564383

Rio Tinto Lowers 2020 Diamond Production Guidance

Mining and Exploration

11:39

Rio Tinto has lowered its 2020 rough diamond production guidance to 12-14 million carats, down from 17 million carats produced in 2019 and 18.4 million carats the year prior.

This declining trend comes as no surprise and Rio's guidance reflects the expected closure of Argyle in the fourth quarter of 2020, as well as lower grades at the Diavik mine in Canada. The Diavik mine is a joint venture in which Rio Tinto is the majority (60/40) partner, with Dominion Diamond Mines holding the remaining share. The Argyle mine has produced more than 825 million carats of rough diamonds since it began production in 1983.

Image: Argyle mine, courtesy of Rio Tinto

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