In some ways early 2001 was a major turning point in the life of Australia's next diamond miner, Kimberley Diamond Company NL. During February the (then) West Australian-based junior explorer reached a landmark agreement with the Rio Tinto group's wholly-owned Argyle Diamond Mines Pry Ltd, giving it access to the prized 117 square kilometre Ellendale mining lease in Western Australia's west Kimberley. Under the terms of the arrangement, KDC will pay 23.25 million dollars for the property located 140 kilometres east of Derby.
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