Gah­cho Kué Diamond Mine Opens

Solitaire - - BULLETIN -

Aerial view of the Gah­cho Kue project site look­ing south-east. ah­cho Kué, the world’s largest new diamond mine in the last 13 years, of­fi­cially opened on Septem­ber 20. The mine, a joint ven­ture be­tween De Beers (51%) and Moun­tain Prov­ince Di­a­monds (49%), is ex­pected to pro­duce ap­prox­i­mately 54 mil­lion carats of rough di­a­monds from 35 mil­lion tonnes of ore over its life­time.

A fly-in/fly-out re­mote mine site si­t­u­ated ap­prox­i­mately 280 km north­east of Yel­lowknife in the North­west Ter­ri­to­ries (NWT) of Canada, Gah­cho Kué re­mains on track to reach full com­mer­cial op­er­a­tion in the first quar­ter of 2017. Com­pris­ing three open pits, the mine will em­ploy 530 peo­ple full-time, with the ma­jor­ity work­ing a two-week in/ two-week out ro­ta­tion.

The mine was opened of­fi­cially by De Beers Group chair­man and An­glo Amer­i­can chief ex­ec­u­tive Mark Cu­ti­fani, De Beers Group CEO Bruce Cleaver, De Beers Canada CEO Kim Truter, Moun­tain Prov­ince Di­a­monds CEO Pa­trick Evans, and rep­re­sen­ta­tives of First Na­tions and Metis com­mu­ni­ties in the North­west Ter­ri­to­ries at an event that in­cluded 150 guests from across Canada and around the world.

Canada is the world’s third largest diamond pro­ducer by value and the fifth largest by vol­ume. Un­der­pinned by a $1 bil­lion cap­i­tal in­vest­ment, the de­vel­op­ment of Gah­cho Kué be­tween 2006 and 2015 has al­ready pro­vided a C$440 mil­lion boost to the NWT econ­omy, ac­cord­ing to a re­cent so­cio-eco­nomic im­pact study con­ducted by Ernst & Young for the De Beers Group of Com­pa­nies.

More than 90% of Gah­cho Kué’s eco­nomic im­pact will be de­liv­ered once the mine be­comes fully op­er­a­tional, equiv­a­lent to a fur­ther C$5.3 bil­lion in Gross Value Added (GVA) to the NWT. In­clud­ing its

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