One of the “world’s largest” historic diamond mines in Western Australia may soon be shining again after its owner was awarded a round of key mining leases.
The Ellendale diamond project, nestled in the Kimberly region of WA, hasn’t been touched since 2015 – but new owner Gibb River Diamonds (GIB) has plans to get the mine up and running again.
Since GIB re-assumed 100 per cent ownership and control of the Ellendale from Burgundy Diamonds in 2023, the company has been working towards re-establishing diamond production.
GIB said Ellendale has been one of the world’s largest diamond producers in the past, with previous operators reporting a combined market capitalisation of over $690 million in 2006 on leases now held by GIB.
Ellendale’s production included the annual supply of over 50 per cent of the world’s Fancy Yellow diamonds, which were the subject of a special marketing agreement between former operators and Tiffany & Co.
Following the granting of M04/475, M04/476 and M04/477 mining leases, GIB has continued to make progress at the mine.
A heritage clearance survey scheduled to commence in the first week of June, which is another major step towards facilitating the re-commencement of mining.
GIB is also not ruling out any financing options for the project, with debt, equity, earn-in partner, joint venture partner, a North Australian Infrastructure Fund (NAIF) partnership, or other government funding schemes on the table.
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