Gahcho Kué Construction Now Complete
Construction is now substantially complete on the De Beers Canada (51 per cent) and Mountain Province Diamonds (49 per cent) Gahcho Kué diamond mine.
A fly-in/fly-out remote mining camp situated approximately 280 km northeast of Yellowknife, Gahcho Kué remains on track to reach full commercial operation in the first quarter of 2017. Comprised of three open pits, the mine will employ 530 people full-time, with the majority working a two-week in/two-week out rotation.
Underpinned by a US$1 billion capital investment, the development of Gahcho Kué between 2006 and 2015 has already provided a C$440 million boost to the NWT economy, according to a recent socio-economic impact study conducted by EY for the De Beers Group of Companies.
“Our employees, our business partners and our community partners went above and beyond to deliver this world class asset ahead of schedule and under budget,” said Kim Truter, CEO De Beers Canada. “All those who played a part from discovery through permitting, construction, commissioning and now first production can be proud to have done so in a safe and environmentally responsible way.”
More than 90 per cent of Gahcho Kué’s economic impact is expected to be delivered once the mine becomes fully operational, equivalent to a further C$5.3 billion in Gross Value Added (GVA) to the NWT. Including its supply chain impacts, the mine supported more than 2,700 jobs in 2015 while still under construction, with employment at the site representing more than 10 per cent of employment in the NWT’s extractive industries.
“Today marks the culmination of more than 21 years of commitment and support from our shareholders, without which today would not have been possible,” said Patrick Evans, CEO Mountain Province Diamonds. “I also recognize the support of our lending group and joint-venture partner, who helped get us over the finish line. As production and cash flows commence, our singular focus is to repay our shareholders and business partners and to operate this diamond mine for the benefit of our employees and the communities they call home.”
