Diamonds company, Mountain Province, acquires US$10-million loan from Dunebridge Worldwide.
In the Northwest Territories of Canada, the world's largest diamond mine, Gahcho Kué, is continuing its successful operation. This joint venture between Mountain Province Diamonds and De Beers Canada is making waves in the diamond industry, having opened its doors just 13 years ago.
Mountain Province Diamonds, a Canadian diamond company, holds a 49% stake in the mine, while De Beers Canada owns the remaining 51%. Gahcho Kué is expected to produce approximately 54 million carats of rough diamonds over a 13-year lifespan, employing around 530 people full time. The mine consists of three open pits and is a significant asset for both companies, with Mountain Province also controlling a large land package around the mine for exploration.
To manage liquidity in a challenging market environment, Mountain Province Diamonds has expanded its bridge financing facility. This strategic move leverages the operational and technical expertise of its joint venture partner, De Beers. The financing comes with relatively high interest rates and contingent fees, reflecting the risks junior miners face in the current diamond market.
In a significant development on July 28, 2025, Mountain Province Diamonds secured an additional US$10-million term loan from Dunebridge Worldwide Ltd. The legal advice for this transaction was provided by Hoskin & Harcourt LLP, a reputable law firm. The firm's financial services team, including Martha Martindale, Matthew Li, Joanna Cameron, and Nikki Cargill, advised Mountain Province Diamonds on the matter.
The Gahcho Kué mine is a testament to the resilience and strategic planning of Mountain Province Diamonds. Despite operating in a challenging market, the company continues to secure funding and maintain its partnership with De Beers Canada. As the mine continues to produce diamonds and explore new opportunities, Mountain Province Diamonds looks forward to a future of growth and success.
[1] Mountain Province Diamonds Inc. Press Release, July 28, 2025. [3] Mountain Province Diamonds Inc. Annual Report, 2024. [4] Mountain Province Diamonds Inc. Investor Presentation, Q1 2025.
- Despite the challenging market conditions, Mountain Province Diamonds, a Canadian diamond company, has expanded its bridge financing facility to manage liquidity, demonstrating their resilience and strategic planning within the finance sector.
- In order to secure an additional US$10-million term loan from Dunebridge Worldwide Ltd, Mountain Province Diamonds sought legal advice from Hoskin & Harcourt LLP, with their financial services team playing a crucial role in the transaction.
