Feds approve Gahcho Kué diamond mine

by eyetee | October 23, 2013 1:02 pm

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Canada’s Gahcho Kué diamond mine is one step closer to production, now that the federal government has given its go-ahead.

Bernard Valcourt, the minister of aboriginal affairs and northern development, has approved the mine’s development as recommended by the Mackenzie Valley Environmental Impact Review Board.

Located 280 km northeast of Yellowknife, the mine is a joint venture between De Beers Canada (51 per cent) and Mountain Province Diamonds (49 per cent). It is forecast to produce an average of 4.5 million carats annually over its 11-year mine life.

“The minister’s approval confirms the plans for the development and operation of the Gahcho Kué diamond mine meet the highest standards,” said Tony Guthrie, chief executive officer (CEO) for De Beers Canada.

“The new diamond mine will benefit the economy and residents of the Northwest Territories and enhance Canada’s position as a premier diamond producer.”

Federal government approval allows the Mackenzie Valley Land and Water Board to commence processing of the applications for the land use permit and water licence required to construct and operate the mine.

“Gahcho Kué has gone through the most comprehensive environmental review of any mining project in the Northwest Territories,” said Patrick Evans, Mountain Province president and CEO.

“Through this process, consultation with stakeholders has been extensive. The shareholders of Mountain Province now look forward to an efficient and timely completion of the remaining regulatory process, which is necessary to ensure the optimal development of the Gahcho Kué diamond mine.”

De Beers Canada and Mountain Province are currently reviewing the development schedule, due to the timing of issuance of the land use permit as it relates to winter road access.

Source URL: https://www.jewellerybusiness.com/news/feds-approve-gahcho-kue-diamond-mine/

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