Mountain Province to offer placement for NWT diamond mining


Mountain Province Diamonds, which holds a 49 per cent stake in Gaucho Kué, has offered a $100-million placement to mine diamonds in the Lac de Gras region of the Northwest Territories. The announcement, made on September 30, stated that $75 million will come from a bought deal, the full amount to close near the date of October 16.

Production for the mine is expected to start mid-to-late 2016 in NWT as a joint venture with De Beers. The mine is expected to offer 700 jobs during the construction process, which will last for two years. There will be 400 people employed afterwards for operation. CJ