One of the world’s largest historic diamond mines in Western Australia is poised to resume operations after securing key mining leases.
The Ellendale diamond project, located in the Kimberley region, has been dormant since 2015. However, its new owner, Gibb River Diamonds (GIB), is preparing to restart mining activities.
GIB regained full ownership and control of Ellendale from Burgundy Diamonds in 2023. Since then, the company has been working diligently to re-establish diamond production at the site.
Ellendale has a rich history as a major diamond producer. Previous operators reported a combined market capitalisation exceeding $690 million in 2006. The mine was known for supplying over 50 percent of the world’s Fancy Yellow diamonds annually, under a special marketing agreement with Tiffany & Co.
The recent granting of mining leases M04/475, M04/476, and M04/477 marks significant progress for GIB. The company plans to conduct a heritage clearance survey in early June, a critical step towards resuming mining operations.
GIB is exploring various financing options to support the project. These include debt, equity, partnerships, and potential government funding through the North Australian Infrastructure Fund (NAIF) or other schemes.
