Mountain Province makes key marketing VP appointment as Gahcho Kué advances

TORONTO (miningweekly.com) – Mountain Province Diamonds, which owns 49% of Gahcho Kué – the largest diamond mine currently under construction – is preparing for its transition from project developer to precious gem producer with the appointment of Reid Mackie as VP for diamond marketing.

Mackie joined Mountain Province from Rio Tinto Diamonds, where he managed sales and marketing for Argyle Pink Diamonds, in Perth, Australia, from 2011 to 2015. At Argyle, he was responsible for the pricing and sales of all pink polished diamonds, including the Argyle pink diamond tender.

Prior to that he was a senior executive trader in Antwerp, Belgium, from 1999 to 2010. In this role, he was responsible for the valuation and sales of rough diamonds from the Diavik, Argyle, Murowa, Ellendale and Merlin diamond mines.

"We welcome Reid to Mountain Province at a very exciting time for the company as we begin to prepare for the first sales of diamonds from the Gahcho Kué diamond mine. His considerable experience in taking new mine production to the market will benefit Mountain Province greatly as we seek to maximise revenue from our share of the Gahcho Kué production,” Mountain Province president and CEO Patrick Evans commented.

The Gahcho Kué project, in which De Beers Canada held the remaining 55% stake, comprised a cluster of four diamondiferous kimberlites, three of which had a probable mineral reserve of 35.4-million tonnes, grading 1.57 ct/t, for a total diamond content of 55.5-million carats.

A 2014 National Instrument 43-101 feasibility study report indicated that the project had an internal rate of return of 32.6%.

The Gahcho Kué diamond mine is expected to produce an average of 4.5-million carats a year over a 12-year mine life. With construction more than 70% complete, the project remained within budget and on schedule for first production to start in the second half of 2016.