Make Kitco Your Homepage

Pandemic, winter cold slows production at Mountain Province Diamonds

Kitco News

Diamond production dropped 31% in Q1 2021 compared to the same quarter a year ago, said Mountain Province Diamonds.

The company released its Q1 yesterday.

Carats recovered were 1,392,128, 16% lower than comparable quarter a year ago.

Cold and pandemic halted production at the company.

"Mining and processing performance in the quarter was negatively impacted by the previously disclosed unplanned 22-day operational stand-down in February due to measures taken to limit the spread of Covid-19 at Gahcho Kué," said Mountain Province.

"Additionally, the problematic restart of production during one of the coldest winter months contributed to a lower-than-expected equipment availability, which combined with manpower availability issues and a higher-than-average incidence of extreme weather events resulted in lower than expected production for the quarter."

Mountain Province Diamonds has a 49% share of Gahcho Kué diamond mine located in Canada's Northwest Territories. De Beers Canada is the other mine participant.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.