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Mountain Province Diamonds Extends Loan and De Beers Payment Deadlines
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Mountain Province Diamonds Extends Loan and De Beers Payment Deadlines
Mar 17, 2026 2:34 PM

05:16 PM EDT, 03/17/2026 (MT Newswires) -- Mountain Province Diamonds ( MPVDF ) after trade Tuesday said it signed a new agreement with Dunebridge Worldwide to extend the repayment dates on its loans.

The company said its US$40-million term loan will now mature on April 30 instead of March 18, while its US$33-million working capital facility will also be due April 30 instead of March 31.

The company also saids De Beers Canada, its joint venture partner in the Gahcho Kue Mine in the Northwest Territories, issued a new in-kind election (IKE) notice tied to about C$49 million in unpaid amounts, including roughly C$38.8 million due Tuesday, extending the deadline to May 16.

"Failure to pay the outstanding amount under an IKE notice within 60 days of the date of that IKE notice will constitute a formal event of default under the joint venture agreement and a cross default under the company's other financing documents, unless otherwise agreed between the joint venture partners," Mountain Province Diamonds ( MPVDF ) said.

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