Diamond mine shut

Townsville Bulletin - - NEWS -

ONE of the world’s largest pro­duc­ers of pre­cious yel­low di­a­monds, Kim­ber­ley Diamond Com­pany, has shut­tered its mine af­ter re­ceiv­ing weak prices at auc­tion in Bel­gium. At least 93 jobs are at risk af­ter the par­ent com­pany Kim­ber­ley Di­a­monds sus­pended oper­a­tions at its sub­sidiary’s El­len­dale Diamond Mine in north Western Aus­tralia. The com­pany’s sub­sidiary Kim­ber­ley Diamond Com­pany was placed into ad­min­is­tra­tion af­ter suf­fer­ing a hit to its rev­enues from lower diamond grades, smaller sizes and lower prices. The firm de­clined to say how many jobs would go.

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