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Ellendale May Be Handed Back to the State
Oct 22, 2015 4:08 AM
By Rapaport News
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RAPAPORT... The collapsed Ellendale diamond mine may be handed back to the local government as the diamond market implodes, according to a report by daily The West Australian.
A fresh dispute is looming over the collapsed Ellendale mine as liquidators try to offload its mining tenements and resolve a $28 million environmental liability into the state government’s Mining Rehabilitation Fund.
Owner Kimberley Diamonds closed operations at the mine earlier this year after repeated late payments of royalties. In January, Western Australia’s Department of Mines and Petroleum (WADMP) set in motion a forfeiture action over Kimberley’s failure to pay $200,000 in tenement rental for the mine’s lease.
Liquidators are now trying to hand the mine back to WADMP in a bid to halt ongoing care and maintenance costs at the mine, according to the report.
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Tags:
Australia, Ellendale mine, Kimberley Diamonds, Rapaport News
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