De Beers is part of the acquisition process of taking over a Kennady Diamonds property.
De Beers, and their Gahcho Kue-partner Mountain Province, are trying to expand their Northern ventures.
Kennady Diamonds owns the ‘Kennady North project’. The property is located adjacent to the Gahcho Kue mine.
De Beers announced via statement that should the proposed acquisition be approved, the two joining companies will look into incorporating the Kennady Diamonds properties with the Gahcho Kué joint venture.
CEO for De Beers Canada Kim Truter said the potential acquisition opens up a lot of opportunity for the company moving forward.
“[The acquisition] of Kennady Diamonds opens up some potential new options for the operation’s future, and while further work would be required on the resource and there would need to be agreement on commercial terms, the signing of this non-binding [Memorandum of Understanding] makes sense for both parties as we consider how our partnership might develop.”
De Beers recently celebrated a record first-year for it’s Gahcho Kue mine.