By: Esmarie Swanepoel
Operations at the Ellendale diamond mine – the home of rare fancy yellow diamonds in Western Australia – have been suspended, and owner Kimberley Diamonds has called in administrators to the subsidiary holding the mining licence.
The company said on Thursday that lower recovered grades and lower size distribution had negatively impacted on the revenues of its Kimberley Diamond Company (KDC) subsidiary. A sharp decline in the rough diamond market also saw the company achieve significantly lower-than-expected prices at a recent auction held in Antwerp. →