Mountain Province Diamonds Inc. ( (MPVDF) ) has released its Q3 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 company engaged in diamond mining, operates primarily in the mining sector with a focus on the Gahcho Kué Diamond Mine in Canada’s Northwest Territories. The company is known for its joint venture with De Beers Canada and its exploration of several kimberlites for future development.
In its third quarter financial results for 2025, Mountain Province Diamonds reported a challenging period with a net loss of $55.9 million. The company sold 409,081 carats for $29.2 million, reflecting a decrease in both volume and average price per carat compared to the previous year.
Key financial metrics showed a decline, with adjusted EBITDA at negative $4.3 million and a loss from mine operations of $29.0 million. Operationally, the company treated fewer ore tonnes and recovered fewer carats compared to Q3 2024, contributing to higher cash costs per carat. Despite these challenges, the company made progress in mining higher-grade ore and maintained a focus on safety, achieving its lowest injury frequency rate.
Looking ahead, Mountain Province Diamonds remains focused on improving ore grades and operational efficiency. The company anticipates better grades in the fourth quarter and continues to navigate market conditions, including the impact of tariffs on diamond prices.