Ellendale Mine’s Yellows May Rise Again
Posted: August 28th, 2018 11:12pm
The Western Australian government is looking for experienced companies to operate the Ellendale mine, famous for its fancy-yellow diamonds.
On offer are Ellendale’s E4 and E9 pits, storage facilities and infrastructure, which belonged to Kimberley Diamond Company before the company went into administration in 2015. For the past two years, the state’s Department of Mines, Industry Regulation and Safety has been managing the site through its abandoned-mines program, keeping it viable for future development.
Ellendale produced around half of the world’s supply of rare yellow diamonds during peak production, and was also the main supplier of fancy-yellow diamonds for luxury jewelry retailer Tiffany & Co.
POZ Minerals — a new Western Australia-based mining company — recently bought the Blina diamond project, an area adjacent to the Ellendale mine. Sample testing there yielded a parcel of stones greater than 2 carats, including a number of fancy yellows, with an overall valuation of $389 per carat. The fancy-yellow diamonds were expected to sell for $3,391 per carat. POZ chairman Jim Richards met with Tiffany recently to discuss a potential deal between the two companies, according to Stockhead.
Mining companies interested in operating Ellendale have until November 30 to submit an expression of interest to the government, while the department plans to announce the chosen company by early 2019, it said.
Tags: Australia, Ellendale Mine, Tiffany's, Yellow Diamonds
Category: Diamond News
Need Advice Or Just Have a Quick Question? Contact Me Today!
What Our Clients Say
About Stephen Andrew
We accept Credit Card, Wire Transfer payments and provide Free, Fully Insured, Trackable Shipping to anywhere in the world.
All of our diamonds are Guaranteed Natural Coloured are GIA certified and 100% Conflict-Free.
30 Day Return Policy
Stephen Andrew Collection stands behind the quality of every product that we sell. If you are unsatisfied with any portion of your transaction we will provide a 100% refund of our product within 30 days of purchase* Please enquire directly for details on our return policy.
Stephen Andrew Collection
221 Victoria St. Suite #313
Toronto | Canada | M5B 1V4
Private Jeweller | By Appointment Only