EventMountain Province Diamonds is surrendering its 49‑percent ownership of Gahcho Kué to De Beers. In return, De Beers will assume the Canadian miner’s share of decommissioning, reclamation and environmental clean‑up costs, along with other debt obligations. CEO Jonathan Comerford said the swap removes all Mountain Province liabilities, gives employees and communities certainty, and preserves opportunities for the company to participate again in the mine’s future.
Mountain Province, which owns a 49% stake in the Gahcho Kué diamond mine in Canada’s Northwest Territories, is transferring that stake to De Beers. In exchange, De Beers will take on Mountain Province’s decommissioning, reclamation, environmental clean‑up responsibilities and other debts, as part of a restructuring to stabilize the company amid weak diamond prices.
De Beers will take full ownership of the Gahcho Kué diamond mine in the Northwest Territories after Mountain Province Diamonds transferred its minority stake, settling debt and wiping out cleanup cost obligations. The deal reportedly gives greater certainty for the mine’s 850 employees and communities.
