S&P Global Ratings over the holidays revised its outlook on Mountain Province Diamonds to negative from positive.
Also, the rating agency affirmed its ratings on the company, including the CCC+.
Mountain Province Reports Increased Rough Sales idexonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from idexonline.com Daily Mail and Mail on Sunday newspapers.
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Coronavirus: Gahcho Kue Mine to end Month-Long Closure March 01, 21 by
(IDEX Online) - Mountain Province is preparing to resume operations after a Covid outbreak closed its Gahcho Kue mine for almost a month.
At least 19 workers at the site (
pictured), in Canada s remote Arctic tundra, tested positive for the virus.
The unscheduled closure is a further blow for the miner, which reported diamond sales down almost 18 per cent to $171.3m in its full-year results.
Most of its sales were to Irish billionaire Dermot Desmond who holds a 32 per cent stake in the company a
nd stepped in with a a vital liquidity lifeline last August.
Mining operations at Gahcho Kué remain suspended following the identification of further employees who have tested positive for Covid-19.A total of 15 infections have been discovered at the Canadian site, which is jointly owned by De Beers and Mountain Province, a De Beers spokesperson told.