Gahcho Kué diamond mine project is almost 62% complete

Mountain Province Diamonds Inc. announced that the overall Gahcho Kué diamond mine project is almost 62 percent complete at the end of May, 2015. It noted that the progress of the development is according to plan and budget. Key areas of focus are continued dewatering to expose the kimberlites, the placement of concrete foundations and the erection of steel superstructures of the major facilities. A key milestone is to ensure that the process plant building is enclosed by October 2015.

Patrick Evans, Mountain Province President and CEO, commented: “We’re on track for first production in H2 2016 and are currently making arrangements to be in a position to receive and sell our 49 percent share of diamond production. These arrangements are expected to be in place by the end of 2015.”

Currently around 500 employees and contractors are at site at Gahcho Kué and this number is expected to peak at approximately 650 during the third quarter of 2015. During production there will be approximately 400 employees at Gahcho Kué. The project Operator, De Beers Canada, maintains a strong focus on a robust safety record with 15 consecutive months without a lost-time injury.

Mountain Province Diamonds is a 49 percent participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is the world’s largest and richest new diamond mine.