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Market NewsNewsDe Beers signs MOU with Mountain Province for Kennady properties

De Beers signs MOU with Mountain Province for Kennady properties

Mountain Province Diamonds and its joint venture partner at the Gahcho Kue diamond mine, De Beers Canada, have signed a non-binding memorandum of understanding that covers properties owned by Kennady Diamonds with the goal of rolling them into the existing venture, canadianminingjournal.com reported.

At the end of January 2018, Mountain Province made an all-share bid worth about $176 million to take over Kennady. (Kennady was spun out of Mountain  Province in 2012.) Kennady has brought its diamond properties that abut the Gahcho Kue site near Lac des Gras, N.T., to the advanced exploration stage, said the canadianminingjournal.com report.

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