Tuesday December 1, 2020

Desmond’s diamond mine earns CAN$43m in first six months of year

Barry J Whyte

Chief Feature Writer

12th August, 2018
Dermot Desmond

Dermot Desmond’s billion-dollar diamond mine earned $43 million (Canadian dollars) for the first half of 2018.

However, despite diamond sales of $165.6 million in the first six months, the company ended the period with a loss of $6.3 million.

Mountain Province blamed currency fluctuations for the loss, saying that it had suffered “unrealised foreign exchange losses of [$18.1 million] on the translation of the company’s USD-denominated long-term debt”.

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