Diamond mine shut
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.