Desmond diamond mine return ‘disappoints’ BlackRock

Desmond diamond mine return ‘disappoints’ BlackRock

Significant US investor shrinks stake after tough year for sector

Giant US investment firm BlackRock says the performance of Mountain Province Diamonds has “disappointed the market” and has trimmed back its stake in the Dermot Desmond-backed company.

The comments came from the annual report by Ian Cockerill, the chairman of BlackRock World Mining Trust – a division of the investment giant – who said “2018 was a disappointing year for the mining sector” and that BlackRock’s “diamond exposure has continued to disappoint, with Mountain Province...

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