Some major milestones achieved by diamond mines at Northern mines during the third quarter.

Ekati

Owner Burgundy Diamond Mines Ltd.

Burgundy completed 40 per cent of its Sable underground pre-feasibility study during the third quarter. The company decided to reschedule the project start date due to positive Misery mine extension results. Burgundy recovered 1.24 million carats during the third quarter, and operational guidance for 2024 production was revised to 4.7 to five million carats.

Burgundy became owner in July 2023.

Gahcho Kue

Owner:  De Beers Canada (51 per cent) and Mountain Province Diamonds (49 per cent)

Mountain Province reported a yield of 1.19 million carats during the third quarter, down 10 per cent from 1.33 million during the same period in 2023.

Mountain Province Diamond’s production guidance of 4.2-4.7 million carats for 2024 has been maintained, with an expectation of finishing in the mid-to-upper portion of that range, the company stated.

It’s anticipated that Gahcho Kue’s 5034 pit will be mined to completion before the end of this year. Afterwards, focus will turn to the Northeast Extension kimberlite between the 5034 and Tuzo pits and the Wilson and Tuzo kimberlites. Gahcho Kue’s mine life was extended to 2031 earlier this year.

Diavik

Owner: Rio Tinto

At Diavik, carat production was 28 per cent lower than the third quarter of 2023, delivering 542,000 carats in Q3 2024 compared to 757,000 carats a year earlier. Through the first nine months of the year, Diavik mined 1.98 million carats of diamonds.

Third quarter production was impacted by a subsidence event in July that limited underground ore deliveries. Prior to the end of the third quarter, Rio Tinto announced that the Diavik mine completed the development and construction of the first phase of the A21 underground mine, and it was moving into commercial production.

The objective is for the solar power plant to provide up to 25 per cent of Diavik’s electricity during closure work, after commercial production ceases in 2026. Closure is expected to be complete by 2029.