Mountain Province Raises Full-Year Forecast

Mountain Province has upped the production guidance from its Gahcho Kué mine in Canada following improvements it made to its processing plant.

Output will come to between 4.2 million and 4.7 million carats, compared with the 4 million to 4.4 million carats it originally reported, the miner said last week. That total is for the deposit on a 100% basis. Mountain Province owns 49% of Gahcho Kué, while its joint-venture partner, De Beers, holds the remainder.

The increased output is the result of improvements the company made last year to its production plant, enabling it to process a greater amount of ore. The company also expects to recover higher-grade ore, it added.

Mountain Province believes it will sell between 2.3 million and 2.6 million carats of rough this year, it noted.

The company will release its results for the fourth quarter and full year of 2023 on March 27.

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Main image: The Gahcho Kué mine. (Mountain Province)