Mountain Province Diamonds is a Canadian diamond company. In joint venture with De Beers, we operate the world's largest and richest new diamond mine, Gahcho Kué, located in the Northwest Territories of Canada.
Mountain Province Diamonds also owns 100% of the Kennady North Project and continues to explore for diamonds in the Northwest Territories through targeted drill programs.
We create value from the Gahcho Kué diamond mine in Canada’s Northwest Territories through our joint venture with De Beers Canada. Together we share the responsibility of safeguarding the invaluable environment, communities, and wildlife of this region.
Mountain Province Diamonds’ operating approach is founded on respect for this unique region. Our principles and practices have been shaped through our close relationship with the indigenous peoples and are vital to the region’s safeguarding. They also drive Gahcho Kué’s innovation and efficiency. The value derived from Gahcho Kué is being shared over the duration of the mine's life, and these people, their land, and the wildlife will benefit from our joint efforts to minimize environmental impact as we mine our natural diamonds.
Gahcho Kué is founded on strong projections. Through our partnership with De Beers we are privileged to access the unmatched experience of the world’s foremost diamond producer. Annual average diamond production through to 2021 will exceed 5 million carats, with annual recoveries over the life of the mine averaging 4.5 million carats.
We independently market our share of natural rough diamonds to the world’s leading diamond manufacturers. We aspire to work with retailers, telling the story of our diamonds, the value they create, and offering consumers a natural diamond that contains the extraordinary nature of the North.
With committed exploration around and beyond the existing mine, Mountain Province Diamonds is resolved to ensure our presence in the region extends beyond 2030, the mine’s current projected lifespan.
Every diamond recovered from Gahcho Kué is a small miracle of nature, released from its source through our exceptional partnerships and practices, and which reflects the qualities of the North and its people.
In August 1992, Mountain Province Diamonds acquired a 100% interest in the mineral properties upon which the Gahcho Kué diamond mine is situated. During 2002, the Company entered into the Gahcho Kué Joint Venture Agreement with De Beers and Camphor Ventures Inc. Under this agreement, De Beers could have earned up to a 55% interest in the project by funding and completing a positive definitive feasibility study.
Under the same agreement, De Beers could also have earned up to a 60% interest in the project by funding development and construction of a commercial scale mine.
The original Gahcho Kué Joint Venture Agreement was amended and restated in July 2009, establishing Mountain Province Diamonds’ ownership interest at 49% of the Gahcho Kué diamond mine and De Beers’ at 51%.
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