Mountain Province Diamonds Inc. ( (MPVDF) ) has released its Q2 earnings. Here is a breakdown of the information Mountain Province Diamonds Inc. presented to its investors.
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Mountain Province Diamonds Inc., a key player in the diamond mining industry, operates the Gahcho Kué Diamond Mine in Canada’s Northwest Territories, in partnership with De Beers Canada. The company is also involved in exploring and developing additional mineral resources in the surrounding areas.
In its second-quarter earnings report for 2025, Mountain Province Diamonds revealed a challenging financial period, marked by a net loss and reduced revenues compared to the previous year. The company faced operational hurdles, including lower diamond grades and market uncertainties exacerbated by recent U.S. tariffs.
Key financial metrics for Q2 2025 included the sale of 411,114 carats generating $36.8 million in revenue, a significant drop from the previous year’s $56.8 million. The company reported an adjusted EBITDA of negative $2.2 million and a net loss of $37.7 million, highlighting the impact of increased production costs and lower diamond recovery rates.
Operationally, the Gahcho Kué Mine achieved record ore throughput, but the average grade of diamonds recovered fell by 44% compared to the first half of 2024. Despite these challenges, the company remains committed to improving safety and operational efficiency, with a notable reduction in the Total Recordable Injury Frequency Rate.
Looking ahead, Mountain Province Diamonds aims to navigate the current market volatility by focusing on cost control and operational discipline. The company anticipates improved diamond grades as mining progresses into higher-grade areas, positioning itself for potential market recovery.