Desmond puts another $60m into diamond mine in Canadian Arctic

Mountain Province Diamonds closed off a $330 million sale of loan notes earlier this week, with entities controlled by Desmond among the biggest investors

17th December, 2017
Dermot Desmond with Jonathan Comerford of Kennady Diamonds at the Gahcho Kué mine

Dermot Desmond, the billionaire financier, has sunk another $60 million into his Canadian diamond mining project, according to the company responsible for the dig.

Mountain Province Diamonds closed off a $330 million sale of loan notes earlier this week, with entities controlled by Desmond among the biggest investors. Desmond owns around a quarter of the explorer, whose main project is the Gahcho Kué diamond mine near the Arctic Circle.

In a statement, Mountain Province said “the...

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