Gahcho Kué wins construction and engineering award in Montreal

Project team recognized for excellence in building and commissioning the world's largest new diamond mine

CALGARY, Nov. 9, 2016 /CNW/ - The Gahcho Kué Project team captured Gold last night at the 11^th Annual Project Management Institute's Elixir Gala Evening in Montreal in the Private Project Construction and Engineering category.

The Gala was held to recognize excellence in project management in Quebec, where Gahcho Kué engineering contract partner Hatch is based. The submission was on behalf of the entire project, a collaboration between De Beers, Hatch and JDS Energy and Mining and headed by Allan Rodel of De Beers. Gahcho Kué, the world's largest new diamond mine under final commissioning and ramp up to full production, is a Joint Venture between De Beers (51%) and Mountain Province Diamonds (49%).

Rodel was on hand in Montreal to accept the award on behalf of the project team and Joint Venture partners and said the recognition is an acknowledgment of the true teamwork across all those who played a role in delivering Gahcho Kué safely, ahead of schedule and within budget targets. "This project took more than 1,000 people from the NWT and across Canada representing multiple companies and communities, but what they all shared in common was the commitment to do this project the right way, starting with safety from the very first day," said Rodel. "With everyone aligned, we were able to tackle all challenges that came our way including extreme weather and complex logistics, a firm timeline and disciplined cost-control during uncertain economic times. This truly is a team award."

Kim Truter, Chief Executive Officer of De Beers Canada, said the success of Gahcho Kué has given the company tremendous momentum heading into 2017. "The entire project team did an incredible job during the last three years to bring this project forward and into early production, building on 50+ years of activity for De Beers in Canada," said Truter. "Gahcho Kué will help take De Beers forward into the next decade as we transform our company into a new sustainable business model that we can continue to build on."

Mountain Province Diamonds President and CEO Patrick Evans congratulated the Gahcho Kué Project team, noting: "The success of the team's performance was due in large measure to Allan Rodel's strong leadership. Allan has since been appointed to the position of Gahcho Kué mine General Manager and now continues to lead a strong operating team with deep operating experience in the Northwest Territories."

The Gahcho Kué Mine officially opening on September 20, 2016 and is currently ramping up to full production, which is expected in Q1 2017. It is expected to mine 54 million carats over a 12-year life of mine. Gahcho Kué is also forecast to have a $6.7 Billion boost to the Canadian economy, including a $5.3 Billion dollar economic impact on the Northwest Territories.

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

About MOUNTAIN PROVINCE DIAMONDS

Mountain Province Diamonds is a 49% participant with De Beers Canada in the Gahcho Kué diamond mine located in Canada's Northwest Territories. Gahcho Kué is the world's largest new diamond mine. The deposit consists of a cluster of four diamond-bearing kimberlites, three of which have a probable mineral reserve of 35.4 million tonnes grading 1.57 carats per tonne for total diamond content of 55.5 million carats. The mine is projected to produce an average of 4.5 million carats a year. Mountain Province Diamonds is listed on the Toronto Stock Exchange (MPV) and the NASDAQ (MDM). For further information about Mountain Province visit www.mountainprovince.com

SOURCE De Beers Canada Corporation

Image with caption: "Mining has commenced in the 5034 Pit at Gahcho Kué Mine, which officially opened on Sept. 20, 2016. In Montreal on Nov. 9, the Gahcho Kué Project team was awarded Gold at the 11th annual Project Management Institute’s Elixir Gala Evening, in the Private Project Construction and Engineering category. Gahcho Kué is located 280 km northeast of Yellowknife, Northwest Territories. The mine is a joint venture between De Beers Canada and Mountain Province Diamonds. (CNW Group/De Beers Canada Corporation)". Image available at: http://photos.newswire.ca/images/download/20161109_C2130_PHOTO_EN_814897.jpg

Image with caption: "Dignitaries cut the ribbon to officially open Gahcho Kué Mine during a Sept. 20, 2016 ceremony at the mine, located 280 km northeast of Yellowknife, Northwest Territories. On Nov. 9 in Montreal, the Gahcho Kué Project team was awarded Gold at the 11th annual Project Management Institute’s Elixir Gala Evening, in the Private Project Construction and Engineering category. The mine is a joint venture between De Beers Canada and Mountain Province Diamonds. (CNW Group/De Beers Canada Corporation)". Image available at: http://photos.newswire.ca/images/download/20161109_C2130_PHOTO_EN_814899.jpg

De Beers Canada, Tom Ormsby, Head of External and Corporate Affairs, Tel: [phone], Mob: [phone], [email protected]; Mountain Province Diamonds, Matthew Evans, Head of Corporate Affairs, Tel: [phone], [email protected]