Mountain Province Diamonds Inc. announced its financial and operating results for the full year ended December 31, 2021.
In FY 2021 a total of 35.4 million tonnes mined, compared to a total of 35.9 million tonnes mined in 2020; a 1% decrease year over year. 6,229,042 carats recovered during FY 2021 at an average grade of 2.02 carats per tonne, 4% lower than the comparable period (FY 2020: 6,518,261 at 2.01 carats per tonne).
During FY 2021, 3,158,429 carats were sold at an average value of $94 per carat (US$75 per carat) for total proceeds of $298.3 million (US$237 million) in comparison to 3,329,289 carats sold at an average value of $68 per carat (US$51 per carat) for total proceeds of $227 million (US$171 million) in FY 2020.
Mountain Province Diamonds president and CEO Mark Wall commented: "While the beginning of last year was a challenging time for the Company, we ended 2021 strong with excellent sales results, record free cash flow and a $240.6M impairment reversal."
Alex Shishlo for Rough&Polished
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