Ellendale diamond mine’s new owner has now paid off all of its debts.
Fancy yellow diamonds – photo courtesy Proactive Investors
The mine returned a net profit of almost $6million in the last quarter, and was also able to retire a $12million environmental bond to the government.
As a result it was able to pay all of its debts to the previous owner, Gem Diamonds, leaving more than $9million cash in hand.
Diamonds.net [read this story]