Mountain Province Gives De Beers 49% of Gahcho Kué

Mountain Province gives De Beers 49% of Gahcho Kué

Diamond-market weakness pushes the Canadian miner to shed mine liabilities and seek fresh funding for its balance sheet.

De Beers to take full ownership of NWT’s Gahcho Kué diamond mine

Mountain Province Diamonds said it had reached a deal with De Beers to settle some debts by handing over its minority stake in the NWT's Gahcho Kué mine. The post De Beers to take full ownership of NWT’s Gahcho Kué diamond mine first appeared on Cabin Radio.

Mountain Province Diamonds announces exit from N.W.T.'s Gahcho Kué mine

Toronto-based Mountain Province Diamonds announced Thursday that it is giving up its 49 per cent ownership share of the N.W.T.'s Gahcho Kué diamond mine, handing full control over to De Beers Canada. The diamond mine is the last operating in the territory following the closure of two others– Diavik and Ekaiti – earlier this year.