Vital assets will create opportunity
KRSP, the Broome-based service provider half-owned by Marra Worra Worra, has swooped on the failed diamond mine at Ellendale, picking up valuable infrastructure at bargain basement prices.
The liquidation of Kimberley Diamonds (KDL) – which produced the unique Yellow diamonds sold at the world famous Tiffany & Co’s shops – has allowed KRSP to elbow its way into some great opportunities that will have significant long-term value for Marra Worra Worra members.
The Gibb River Road mine, which has been living on borrowed time for some years, is being put into mothballs as state government agencies such as the Environmental Protection Authority and the Department of Mines and Petroleum try to figure out what to do with the operation.
There are also unresolved native title issues at play and major rehabilitation programs that will need to be taken into account in any resolution surrounding the once profitable operation.
But this week, key infrastructure which housed and supported the mine’s 400-plus workforce was put up for sale through the Sydney-based liquidators.
KRSP snapped up an extraordinary and valuable inventory through some touch negotiating and quick thinking.
Sewerage treatment plants, I.T. and Communications infrastructure, two-bedroom houses and various sized dongas, sea containers, top of the range kitchens, fridges and cooler rooms, flat screen television sets, beds and linen, reverse cycle air conditioners, commercial washing machines, industrial driers, six-burner barbeques, gym equipment, microwaves, lawn mowers, food processors and many, many other things are now KRSP property.
While the number of workers onsite has dwindled to a few dozen workers in recent weeks, there is a very strong security presence on site that will remain in place for the foreseeable future.
Marra Worra Worra CEO Dickie Bedford said he was delighted with the purchase and congratulated all of those who were involved in the deal.
He said the wide range of assets would be fundamental to the ongoing success of Marra Worra Worra and its associated companies, and various projects going forward.