Desmond’s diamond mine reports loss and is expecting a difficult rest of year

Dermot Desmond’s Mountain Province Diamonds is expecting a difficult 2019, the company’s chief executive said last week.

The Desmond-backed company, which owns the Gahcho Kue diamond mine in Canada in a joint venture with De Beers, reported a net loss of CAN$18.9 million in 2018, compared to a profit of CAN$17.1 million in 2017, thanks largely to currency losses on its US dollar-denominated debt.

That came on the back of sales of CAN$310.9 ...