Ellendale Diamond Mine Creditors Owed Millions After Closure

Mining and Exploration
10/07/2015 14:23

Administrators of the collapsed Ellendale Diamond Mine in Australia have told creditors they are owed millions of dollars. The mine, which produced about half of the world's supply of rare yellow diamonds, went into voluntary administration last week. Administrator Jirsch Sutherland told the meeting it did not yet know how much money was owed to employees, but $13.5 million remained outstanding to creditors.

Around 100 workers have not been paid and contractors claim they are owned millions of dollars. A further $17.5 million is owed to the miner's subsidiary firms, Royell and Kimroy. Parent company Kimberley Diamonds Limited is owed $1.9 million. Mine worker Mick Ratcliffe said he is owed about $30,000. "The chairman of the board and his cohort have a lot of explaining to do because it has left a lot of people well and truly down the creek," he said.