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Articles from DIAMONDS BY COLOUR - YELLOW (11 Articles)












An Australian mining company is expected to find more fancy yellow diamonds. Image courtesy: <a href="http://www.ellendalediamonds.com.au/">Ellendale Diamonds Australia</a>
An Australian mining company is expected to find more fancy yellow diamonds. Image courtesy: Ellendale Diamonds Australia

New Aussie mine to yield fancy yellow diamonds

An Australian mining company has secured an agreement to commence operations at its diamond mine located near a site that once produced approximately half of the world’s supply of fancy yellow stones.

Mining leases have been granted for POZ Minerals’ Blina Diamond Project, situated in the West Kimberley region of Western Australia, after an agreement was finalised with the traditional owners of the area.

The Blina Diamond Project site is adjacent to the former Ellendale mine, which was described as the world’s “leading” source of fancy yellow diamonds before closing in 2015.

According to a POZ Minerals statement signed by executive chairman Jim Richards, the closure of the Ellendale mine caused the supply of fancy yellow diamonds to cease and had consequently left a gap in the market.

“POZ believes Terrace 5 [an area within the Blina Diamond Project site] could become a significant new source for these highly sought after fancy yellow diamonds,” the statement read.

It noted that a significant amount of mining had previously taken place at the Ellendale diamond province.

“There has been over 30 million dollars spent over the last 30 years on the Blina Diamond Project groundholding by companies including the Ashton JV, De Beers, KDC [Kimberley Diamond Company], and GEM Diamonds,” the company release stated.

“POZ is now the beneficiary of a vast amount of historic data from this previous work and has compiled this information into a modern database which can be assessed using 3D modelling software.”

Past and present

POZ Minerals has used ‘breakthrough’ ground penetrating radar (GPR) survey technology to generate both bedrock and gravel diamond trap site targets.

“The highly successful GPR survey may well prove to be a game changer for this project by quickly and inexpensively defining the highest quality targets,” the statement added.

Bulk sampling and trial mining operations were expected to begin in 2018.

As previously reported by Jeweller, diamonds were first sourced from the Ellendale mine in 1976.

The mine’s most recent operators, Kimberley Diamond Company (KDC), also had an exclusive offtake (future agreement) agreement with Tiffany & Co before entering voluntary administration and later being placed in liquidation in 2015.

Established in 2008, POZ Minerals is a Perth-based company that focuses on gold and diamond projects in Western Australia and the Northern Territory.

The Blina Diamond Project is adjacent to the former Ellendale mine, which once produced about half of the world
The Blina Diamond Project is adjacent to the former Ellendale mine, which once produced about half of the world's supply of fancy yellow diamonds
POZ Minerals executive chairman Jim Richards on site at the Blina Diamond Project
POZ Minerals executive chairman Jim Richards on site at the Blina Diamond Project


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Sunday, 19 November, 2017 09:18pm
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