Mountain Province Diamonds

Corporate brand

Mountain Province Diamonds is a Canadian diamond-mining company and a 49% partner with De Beers in the Gahcho Kué Diamond Mine in Canada's Northwest Territories.

Last updated August 25, 2026

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Overview

Mountain Province Diamonds Inc. is a Canadian diamond-mining company whose principal asset is its 49% interest in the Gahcho Kué Diamond Mine Project in the Northwest Territories. The remaining interest is held by De Beers, which also operates the mine. The partnership structure gives both companies responsibility for their respective shares of operating costs while allowing each partner to market its own share of diamonds produced by the project. Gahcho Kué is presented in the reference material as one of the world's largest and richest new diamond mines, with an estimated reserve of approximately 80 million carats. The project is located in Canada's Northwest Territories and represents the central operating and commercial focus of Mountain Province Diamonds. Rather than functioning primarily as a consumer-facing jewelry label, the company operates upstream in the diamond value chain: it participates in mine development and production and sells rough diamonds generated from its ownership interest. A significant commercial milestone occurred in January 2017, when Mountain Province announced the completion of its first sale of diamonds produced from Gahcho Kué mining operations. The transaction covered approximately 49,420 carats and generated proceeds of about US$6.27 million, equivalent to an average price of roughly US$127 per carat. The sale demonstrated the transition of the project from development and construction into commercial diamond production and established a direct revenue stream from Mountain Province's share of mine output. The company's business model is therefore centered on resource ownership, mine participation, production economics, and independent marketing of rough diamonds. Its performance is closely connected to the geological quality and output of Gahcho Kué, operating costs shared with De Beers, diamond prices, production volumes, and the broader international market for rough and polished diamonds. Publicly available reference material identifies the Gahcho Kué partnership and the initial 2017 sale as the defining elements of the company's profile. Detailed information on its founding, headquarters, executive leadership, current production, corporate website, and other assets is not established in the supplied material.

History

Mountain Province Diamonds is a Canadian diamond-mining company associated primarily with the Gahcho Kué Diamond Mine Project in the Northwest Territories. Its defining corporate relationship is a joint venture with De Beers: Mountain Province holds a 49% interest, while De Beers holds the balance and operates the mine. The partnership enables the companies to share operating costs according to their ownership interests while retaining the ability to market their respective diamond allocations independently. Gahcho Kué is described in the supplied reference material as the world's largest and richest new diamond mine, with an estimated reserve of approximately 80 million carats. This asset gives Mountain Province a focused upstream position in the global diamond industry. The company is not described as a jewelry retailer or polished-diamond consumer brand; its role is that of a mining participant producing and selling rough diamonds from its project interest. The project's commercial importance became visible in January 2017, when Mountain Province announced the completion of its first sale of diamonds originating from Gahcho Kué mining operations. The sale involved approximately 49,420 carats and produced proceeds of approximately US$6.27 million. The reported average sale price was about US$127 per carat. This event marked an important transition from project development into the sale of mine production and provided an early indication of the company's revenue-generating activity. Mountain Province's business remains closely tied to the operating performance of Gahcho Kué, including production volumes, mine costs, diamond quality, reserve characteristics, and market prices for rough diamonds. The company's independent marketing of its share of production distinguishes its commercial activity from a centrally marketed joint-venture product. The supplied reference material does not provide verified details about the company's founding date, founders, headquarters, executive team, corporate website, securities ticker, later production results, or additional corporate milestones.

2017
First reported sale of Gahcho Kué diamonds
[1]Mountain Province Diamondsen.wikipedia.org
Mountain Province announced its first sale of diamonds from Gahcho Kué mining operations. Approximately 49,420 carats generated about US$6.27 million in proceeds, with an average sale price of roughly US$127 per carat.

Products and positioning

An upstream Canadian diamond producer focused on its ownership interest in the Gahcho Kué Diamond Mine and the independent marketing of its share of mine output.

Rough diamonds · 2017
Gahcho Kué rough diamonds
Rough diamonds produced from the Gahcho Kué Diamond Mine in the Northwest Territories constitute Mountain Province's principal commercial output. The company owns 49% of the project and independently markets its share of the mine's diamond production, rather than selling a consumer jewelry collection under the corporate name.

Brand decisions

2017
Commercial sale of initial Gahcho Kué productionProduct launch
Background
Following the start of mining operations at the Gahcho Kué project, Mountain Province needed to commercialize its share of the mine's diamond output.
Action taken
The company completed and announced its first sale of Gahcho Kué diamonds, covering approximately 49,420 carats.
Aftermath
The transaction generated approximately US$6.27 million in proceeds at an average price of about US$127 per carat and established an initial sales channel for the company's share of production.
Diamond-sale proceeds. Approximately US$6.27 million (January 2017)
Source

Recent events

2021-11-09
Mountain Province Diamonds announces Mark Wall as president and CEO[2]Mountain Province Diamonds 宣布任命 Mark Wall 为总裁兼首席执行官mining.com
Reported: 2021-11-09
Mountain Province Diamonds announced the appointment of Mark Wall as president and chief executive officer, effective November 15, following former CEO Stuart Brown’s departure.
2021-10-07
Mountain Province Diamonds CEO steps down[3]Mountain Province Diamonds 首席执行官离任mining.com
Reported: 2021-10-07
Mountain Province Diamonds announced that president and CEO Stuart Brown was stepping down with immediate effect. The company described the departure as a mutual decision.
2021-05-12
Mountain Province Diamonds provides 2021 production and cost guidance[4]Mountain Province Diamonds公布2021年产量和成本指引prnewswire.com
Reported: 2021-05-12
Mountain Province Diamonds provided production and cost guidance for 2021, including expected recovery of 6.3–6.5 million carats and production costs of $125–$135 per tonne treated.
2020-12-16
Mountain Province Diamonds reports fourth-quarter diamond sales[5]Mountain Province Diamonds公布第四季度钻石销售业绩prnewswire.com
Reported: 2020-12-16
Mountain Province Diamonds announced that it sold 956,348 carats during the quarter for total proceeds of $80.2 million (US$61.7 million), and said it had concluded its rough diamond sales for 2020.
2020-04
Mountain Province reports lower Q2 mine production[6]Mountain Province 报告第二季度矿山产量下降prnewswire.com
Reported: 2020-07-15
Mountain Province reported that Q2 2020 mining and processing volumes were lower than in the comparable prior-year period, attributing the decrease to COVID-19 impacts on mine operations.

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