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Kimberley Diamonds Halts Mining at Ellendale
Jul 2, 2013 4:27 AM
By Deena Taylor
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RAPAPORT... Kimberley Diamonds, formerly known as Goodrich Resources, has suspended work at the E9 pit at its Ellendale mine in Western Australia due to safety concerns at the mine.
Following a routine blast in the E9 open pit, some slippage of the pit wall underneath the main access ramp occurred, which has temporarily made the ramp unsafe for use, the company explained. No personnel were in the mine and no equipment was damaged during the blast.
Spokespersons for Kimberley Diamonds reassured shareholders that it has sufficient surface ore stockpiles to continue treatment plant operations for at least two months on high-grade ore. In addition, the mine has lower-grade stockpiles that will last for up to 12 months.
The impact that the interruption will have on estimated production is minimal and will not have a negative impact on the company’s financial results, Kimberley said.
The Ellendale mine is known for its production of rare fancy yellow diamonds. Kimberley Diamonds acquired the mine from Gem Diamonds in April this year for $14.9 million. Based on the mine plane at the time of the acquisition, Ellendale had approximately 18 months of production remaining.
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Tags:
Deena Taylor, Ellendale mine, fancy yellow diamonds, Gem Diamonds, Goodrich Resources, Kimberley Diamonds
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