Friday August 14, 2020

Desmond stumps up $50 million for diamond firm

Mountain Province, the businessman’s struggling diamond mine company, is in ‘serious financial difficulty’, directors confirm, due to Covid-19-related market closure

Barry J Whyte

Chief Feature Writer

14th June, 2020
Dermot Desmond‘s diamond mine company, Mountain Province, is in ’serious financial difficulty‘.

Last week, Dermot Desmond had to put his hand in his pocket to help out Mountain Province, his struggling diamond mine company. According to stock exchange filings, the billionaire businessman stumped up $50 million through a Bahamas-based company called Dunebridge Worldwide.

The circumstances were pressing, Mountain Province revealed in a press release. Its directors “unanimously found that that the company is in serious financial difficulty”.

That’s probably not surprising. The Covid-19 lockdown has shut...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Then €19.99 a month after the offer period.

Get basic
*New subscribers only
You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

This product does not auto-renew

Team Pass

Get a Business Account for you and your team

Related Stories

Hammerson, owner of a number of Irish shopping centres, is to use land it owns near the centres for its “city quarters” project, which could lead to thousands of new residential units

Killian Woods | 5 days ago

Big tech firm claims EngineNode tried to build facility on lands in Meath owned by Facebook without permission

Killian Woods | 5 days ago

Kerry-based financial services giant has placed two foreign exchange shop brands into administration in recent weeks

Ian Guider | 5 days ago