De Beers market share set to pick up on Canadian mine opening – Mining.com

November 4, 2014

Anglo American’s (LON:AAL) De Beers could see its share in the diamond market recover after the company starts mining at its Gahcho Kué operation, located in Canada’s diamond-rich North West Territories.

The project, run by Mountain Province Diamonds (TSX:MPV), which owns 49% of it, consists of a cluster of four diamondiferous 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.

“operations are not expected to begin until late 2016”

And while operations are not expected to begin until late 2016, the companies involved in the project are already counting the days.