Canadian diamond miner secures US$33M

Photo: Mountain Province Diamonds

With the aim to finance its further development, Canada’s miner Mountain Province Diamonds has announced it amended and restated its credit agreement with Dunebridge Worldwide, adding a US$33 million term loan facility to its existing US$25 million re-volving credit facility.

 

Mountain Province Diamonds owns a 49 percent stake in the Gahcho Kué diamond mine in Canada's Northwest Territories which is also co-owned by De Beers Canada.

 

“The Gahcho Kué Joint Venture property consists of several kimberlites that are actively being mined, developed, and explored for future devel-opment,” Mountain Province Diamonds said in a statement.

 

“The company also controls 67,164 hectares of highly prospective mineral claims and leases immediately adjacent to the Gahcho Kué Joint Venture property that include an indicated mineral resource at the Kelvin kimber-lite and inferred mineral resources for the Faraday kimberlites,” according to the miner.