Mountain Province Revenue Improves in 1Q

‘Sales of rough from Mountain Province’s Gahcho Kué mine grew 2.4% to 659,318 carats in the first quarter, the company said Monday.

The Canada-based miner also saw a 6% uplift in its average price, yielding $75 per carat compared to $71 per carat in the first quarter of 2019. Together, these factors increased the company’s revenue by 7% to $49.2 million for the three months ending March 31.

In total, the company recovered 1.7 million carats, up 4.5% compared with the previous year. This equates to 811,009 carats for the 49% stake it holds in Gahcho Kué. De Beers owns the remaining 51%’

Source – Rapaport