The Kimberley is believed to be home to the world’s largest deposits of rare, yellow diamonds and some of the biggest mining companies have tried and failed to profit from them.
Now a Perth-based company is about to have another go and thinks there may be a ”bonanza of hidden diamonds” waiting to be extracted and sold on the world’s diamond markets. The company is convinced it has what it takes to get at the “fantastic stones” known as fancy yellows which are coveted by wealthy dealers and buyers.
POZ Minerals and the Bunuba Dawangarri Aboriginal Corporation signed a Mining Agreement this week for the Blina diamond project, about 100 kilometres east of Derby.
The project sits near the old Ellendale mine that once produced 50 per cent of the world’s yellows and supplied stones to New York’s famous Tiffany and Co.The Ellendale Diamond province has seen many diamond mining ventures, including the embattled miner Kimberley Diamond Company whose project went into administration in 2015.
However POZ Minerals’ executive chairman Jim Richards said he believed his company could succeed. With the world’s biggest source of yellow diamonds potentially still in the ground, he said the right operator could make Ellendale pay where others had failed.
For the rest of this article: http://www.abc.net.au/news/rural/2017-10-18/wach-kimberley-diamonds/9055366