Gibb River Diamonds (GIB) has received three mining leases, marking a significant step towards reviving the Ellendale Diamond Project in Western Australia.
These leases, M04/475, M04/476 and M04/477, encompass the primary sections of the historic E4 and E9 pipes, as well as the extensively bulk-sampled E12 alluvials.
The acquisition of these leases is a critical milestone in efforts to re-establish diamond production at Ellendale, a project that GIB reclaimed full ownership of from Burgundy Diamonds in March 2023.
GIB is now working on the necessary objectives to resume diamond production at the site.
The recent grant of the mining leases is set to significantly aid the ongoing permitting work for mining.
Progress at the Ellendale Diamond Project is ongoing, with a Heritage Clearance Survey scheduled for the first week of June.
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This survey is a crucial step towards the resumption of mining operations on the M04/477 Mining Lease, previously known as the Ellendale 9 mine.
For initial mining operations at the Lights Stockpile at E9, GIB is considering funding options including debt, equity, partnerships or government funding schemes such as the North Australian Infrastructure Fund (NAIF).
The Ellendale Project has been one of the largest diamond producers globally in the past. Production included the annual supply of more than 50% of the world’s Fancy Yellow diamonds.
Earlier this year, GIB entered a mining benefits agreement with the Bunuba Dawangarri Aboriginal Corporation (Bunuba), the traditional owners of the Ellendale project area.
