Gahcho Kué begins ramp-up to production

Diamond mine on track for commercial operation in Q1 2017

TORONTO, Aug. 3, 2016 /CNW/ - The De Beers Group of Companies (51 per cent) and Mountain Province Diamonds (49 per cent) today announce that the Gahcho Kué process plant has been commissioned, and that ore from the mine is now being fed to the process plant to signal the formal ramp-up of diamond production. The project remains on track to reach full commercial operation in the first quarter of 2017.

First ore was exposed at Gahcho Kué on 23 March 2016. The commissioning phase introduced ore into the Processing Facility from the Gahcho Kué pit on 20 June 2016 with the first commissioning carats being recovered on 30 June 2016. The mining operation has, to date, pre-stripped in excess of 20 million tonnes of waste material during the capital phase thereby ensuring sufficient exposed ore for production ramp-up.

Gahcho Kué, about 280km north east of Yellowknife in the Northwest Territories of Canada, is the largest new diamond mine under construction anywhere in the world. It is expected to produce an average of 4.5 million carats per annum over the life of the mine.

Kim Truter, Chief Executive Officer, De Beers Canada, said Gahcho Kué will have a significant impact on the diamond industry: "Gahcho Kué will not only strengthen De Beers in Canada, but ensure Canada remains the third leading diamond producer, by value, in the world. We are excited to see this project move into the production phase and must congratulate our Gahcho Kué team and thank our community partners for helping us deliver this world-class mine." 

ABOUT THE DE BEERS GROUP OF COMPANIES

De Beers is a member of the Anglo American group. Established in 1888, De Beers is the world's leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers employs more than 20,000 people (directly and as contractors) across the diamond pipeline, and is the world's largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company's operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers visit www.debeersgroup.com.

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SOURCE De Beers Canada Corporation

Image with caption: "Ore from the 5034 Pit is now being fed into the process plant as the Gahcho Kué Project begins the ramp-up of diamond production. (CNW Group/De Beers Canada Corporation)". Image available at: http://photos.newswire.ca/images/download/20160803_C7036_PHOTO_EN_746653.jpg

De Beers Canada, Tom Ormsby, Head of External and Corporate Affairs, Tel: [phone], Mob: [phone], [email protected]