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De Beers Group today announced it has signed a non-binding Memorandum of Understanding (MoU) with its partner in the Gahcho Kué mine, Mountain Province Diamonds Inc. (Mountain Province).

The MoU contemplates incorporating properties owned by Kennady Diamonds Inc. (Kennady Diamonds) into the Gahcho Kué joint venture, in the event that Mountain Province’s proposed acquisition of Kennady Diamonds is approved. Mountain Province and De Beers will now work towards a definitive agreement based on the MoU.

Kim Truter, Chief Executive – Canada, De Beers Group, said: “We have been very pleased with the progress of our partnership with Mountain Province in the Gahcho Kué mine. Their proposed 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 MoU makes sense for both parties as we consider how our partnership might develop.”

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About De Beers Group

De Beers Group is a member of the Anglo American plc group. Established in 1888, De Beers Group is the world’s leading diamond company with expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers Group employs more than 20,000 people across the diamond pipeline and is the world’s largest diamond producer by value, with mining operations in Botswana, Canada, Namibia and South Africa. As part of the company’s operating philosophy, the people of De Beers Group are committed to ‘Building Forever’ by making a lasting contribution to the communities in which they live and work, and transforming natural resources into shared national wealth. For further information about De Beers Group, visit www.debeersgroup.com.