Full steam ahead: De Beers Gahcho Kue diamond mine set for full production early 2017

By Dale Benton
Share
The Canadian Gahcho Kue diamond mine is expected to reach full commercial production early next year, mining giant Anglo American has announced. The mi...

The Canadian Gahcho Kue diamond mine is expected to reach full commercial production early next year, mining giant Anglo American has announced.

The mine, located in Canada’s Northwest Territories, is expected to reach an output of 4.5million carats per year over its 13 year mine life.

"Starting the ramp-up to production at Gahcho Kue - on time, on budget and in a challenging environment - is a remarkable achievement," De Beers Chief Executive Bruce Cleaver said in a statement.

Gahcho Kue, a £750.8million project, is owned by both De Beers, with a 51 percent stake and Mountain Province Diamonds. Anglo American has an 85 percent stake in De Beers.

The mine will officially open in September, but initial diamond production began in June this year.

“Now that production has commenced, investor focus likely will turn to the first diamond tender and initial realised prices," Sterck wrote. "New mine production generally takes some time to establish itself in the market ... thus, there is some pricing risk around the first tender."

Read the July issue of Mining Global Magazine!

Be sure to follow @MiningGlobal for news and latest updates.

 

Share

Featured Articles

Intel Ridding its Supply Chain of Conflict Minerals

Intel first began to work towards responsibly sourced conflict minerals from the Democratic Republic of Congo and adjoining countries about 12 years

IEF on 'Paradox' of Mining's Role in Quest for Clean Energy

International Energy Forum says mining is the 'paradox' at heart of quest for clean energy but recognises the industry is addressing sustainability issues

ABB Reduces its Industrial e-Waste Impact

Leading global engineering company ABB – with strong mining presence – cuts industrial e-waste by promoting reuse and recycling in a push for circularity

Mining Automation Drives Efficiency and Safety Gains

Digital Mining

New Schneider SBS Energy Solution for Mining Sector

Smart Mining

Mining Conflicts Hit Communities As Battery Demand Soars

Sustainability