Burgundy, the Australian miner that bought the Ellendale deposit last year, says it aims to produce 1,200 carats of high-end polished diamonds annually through its dedicated facility.
It says wholesale prices of will range from US$5,000 per carat to more than US$50,000. And it aims to double capacity at its Perth cutting and polishing center.
Last year Burgundy bought the mothballed Ellendale mine – famed for its highly desirable fancy yellow diamonds – and last month it launched its own Maison Mazerea luxury jewelry brand in Paris.
Burgundy says it is partnering with Australian jeweler Solid Gold Diamonds in a profit-share agreement, Sold Gold will have exclusive access to Maison Mazerea branded fancy color diamonds for sale in a range of high-end bridal jewelry.
“We are at the same time progressing arrangements with The Princess Grace Foundation and its Grace de Monaco luxury brand for an exclusive launch event in New York in November,” the company said.
Ellendale ceased production in 2015 when previous owner Kimberley Diamond Company went into liquidation. It was the world’s largest producer of fancy yellow diamonds and had an exclusive supply agreement with Tiffany & Co.