YELLOWKNIFE, TORONTO and NEW YORK, Aug. 12, 2014 /CNW/ - De Beers Canada
Inc. as the Operator and Mountain Province Diamonds (TSX: MPV, NYSE
MKT: MDM) are pleased to announce that the Mackenzie Valley Land and
Water Board (MVLWB) has issued the Gahcho Kué Type A Land Use Permit
and sent the Type A Water License for final approval to the Minister of
Environment and Natural Resources (ENR) of the Government of the
Northwest Territories (GNWT).
Tony Guthrie, CEO of De Beers Canada Inc.:
"This represents one of the final regulatory steps for the Gahcho Kué
diamond mine and is the result of very hard work by the Project team
over the past eight years with the Board, Regulatory agencies,
Aboriginal parties, Communities and other Stakeholders. We will
continue to develop the Project responsibly in keeping with the
principles of sustainable development, including protection of the
environment, and with respect for Aboriginal culture and traditions.
We look forward to strengthening relationships with all Stakeholders as
we advance the project toward operation and build for the future
We want to thank the Board and staff of the MVLWB and the many
Participants for their work during the permitting process."
Patrick Evans, CEO of Mountain Province Diamonds, added:
"As the world's largest and richest new diamond mine, Gahcho Kué will
maintain Canada's position as a leading diamond producer. Employment
created by Gahcho Kué and revenues generated by the mine will
contribute to growth and prosperity in the NWT. I extend my
appreciation to the Gahcho Kué Project team, the Regulators as well as
our community partners who have supported the mine development."
Gahcho Kué will employ close to 700 people during the two years of
construction and approximately 400 people during its operational phase.
ABOUT THE DE BEERS GROUP OF COMPANIES
De Beers is a member of the Anglo American plc group. Established in
1888, De Beers is the world's leading diamond company with unrivalled
expertise in the exploration, mining and marketing of diamonds.
Together with its joint venture partners, De Beers employs more than
20,000 people (directly and as contractors) across the diamond
pipeline, and is the world's largest diamond producer by value, with
mining operations in Botswana, Canada, Namibia and South Africa. As
part of the company's operating philosophy, the people of De Beers are
committed to Living up to Diamonds by making a lasting contribution to the communities in which they live
and work, and transforming natural resources into shared national
wealth. For further information about De Beers visit www.debeersgroup.com
ABOUT MOUNTAIN PROVINCE DIAMONDS
Mountain Province Diamonds discovered the first kimberlite at Kennady
Lake in 1995 and in 1997 entered into a joint venture with Monopros, a
subsidiary of De Beers. Mountain Province is a 49% participant with De
Beers Canada in the Gahcho Kué JV located in Canada's Northwest
Territories. Gahcho Kué is the world's largest and richest new diamond
mine development. A March 2014 feasibility study filed by Mountain
Province (available on SEDAR) indicates that the Gahcho Kué project has
an IRR of 32.6%. Further information is available at www.mountainprovince.com.
This news release may contain forward-looking statements, within the
meaning of the "safe-harbour" provision of the Private Securities
Litigation Reform Act of 1995, regarding Mountain Province's business.
Actual results could differ materially from those described in this
news release as a result of numerous factors, some of which are outside
the control of the Company.
SOURCE: Mountain Province Diamonds Inc.
For further information:
Sr. External & Corporate Affairs Manager
De Beers Canada
Tel +1 (416) 645-1710, ext. 2151
President & CEO
Mountain Province Diamonds
Tel +1 (416) 361-3562