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
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
