Operations at the mine in the Northwest Territories lost C$11 million compared to an income of C$2.7 million in last year’s third quarter, Mountain Province said. Cash costs rose to C$125 ($90.20) per tonne treated versus C$118 per tonne in last year’s period, and increased to C$101 ($72.90) per carat recovered compared to C$78 per carat a year earlier, it said.
Gahcho Kué, Mountain Province’s sole producing asset, mined 14% more stones during this year’s first nine months while ore grade dropped 17% compared with the same period last year. Lower grades were planned during this year’s third quarter but the reduced quality wasn’t expected in March and early second quarter, president and CEO Mark Wall said in a release.
“The first nine months of 2024 has produced positive operational results in a period of challenging diamond prices,” Wall said in a release. “While the diamond market has…
