De Beers and Mountain Province Diamonds announced that Gacho Quay (Gahcho Kué), diamond mine, located 280 km north-east of the city of Yellowknife in Canada, began production after commissioning its processing plant. Mine, as a joint venture between De Beers Canada Inc. (51%) and Mountain Province Diamonds Inc. (49%), should reach full production capacity in the first quarter of 2017.
"The first ore on Quay Gacho was produced March 23, 2016. In the input phase operation ore was loaded in the processing facility from a quarry Gacho Quay 20 June 2016 and 30 June of the same year first operational carat diamonds have been obtained. To date, in the course of mining operations has previously been opened by more than 20 million tonnes of waste rock at the stage of capital construction, which allowed to open a sufficient number of ore for the start of production ", - said in a press release, De Beers, on Wednesday.
Gacho Quay is the world's largest new diamond mine under construction. He is expected to produce an average of 4.5 million carats of diamonds per year over its lifetime.
Kim Truter (Kim Truter), CEO of De Beers Canada, said that Gacho Quay will have a significant impact on the diamond industry, "Gacho Quay will not only strengthen De Beers in Canada, but also to leave for Canada rank third the world's leading diamond producer in value. We are pleased to see that the project passed into the production phase, and must congratulate our team at the mine Gacho Quay, as well as to thank our partners from the local community for helping us in the creation of this world class mine. "
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Canadian Eldorado Gold will sell its stakes in two mines and developing a project company Yintai Resources subsidiary for $ 600 million. So far, Eldorado, headquartered in Vancouver, was the largest foreign gold producer in China. This transaction was concluded in less than three weeks after Eldorado agreed to sell the other a Chinese asset Jinfeng mine, the company's China National Gold Group, reported mining.com
According to the report, the transaction will close in the third or fourth quarter of 2016. Sale subject to Eldorado shares in White Mountain mines and Tanjianshan, as well as share in the project to develop Eastern Dragon.
Last month, the Eldorado, which belonged to three of the six operating gold mines in China, has signed an agreement to sell 82% stake in the Jinfeng mine for $ 300 million.
These transactions mark the end of Eldorado Gold activities in China. However, the company still owns several mines overseas - Turkey, Greece, Romania and Brazil. Eldorado said it plans to use the proceeds from the sale of Yintai, to expand its long-term portfolio with high profitability.
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