De Beers to Take Full Control of Gahcho Kué Mine as Mountain Province Restructures Debt
Toronto – October 01, 2026 -- Mountain Province Diamonds has signed a consensual restructuring agreement transferring its entire 49% stake in the Gahcho Kué diamond mine to De Beers Canada, eliminating all outstanding liabilities tied to the Northwest Territories operation.
De Beers assumes 100% ownership of Gahcho Kué mine
Under the deal, De Beers will acquire the 49% participating interest held by 2435386 Ontario Inc. (JVCo), Mountain Province's wholly owned subsidiary, in satisfaction of remaining reclamation payments and all other debts owed under the joint venture agreement dated March 18, 2025, and the payment and security agreement dated February 24, 2025. Once completed, De Beers will hold 100% of the participating interest in the mine, and Mountain Province will be unconditionally released from the specified debt, including accrued interest, under the joint venture arrangements, credit support agreements and related security documents.