The entrepreneur and “Shark Tank” star will share his top tips for success.
Australia’s Ellendale Mine Sold to Burgundy Diamond
Famous for its yellow diamonds, the mine has changed hands once again.

The Western Australia-based company has agreed to a deal of $5.1 million in cash and 16 million company shares.
Burgundy Diamond Mines will also pay a 1.5 percent gross revenue royalty on any diamonds found at the site.
The soon-to-be new owner noted it looks forward “to operating in close concert with the local traditional owners, respecting the heritage and fragile environment of this important region of the country.”
Fellow Australian miner Rio Tinto was in the hot seat last year after the destruction of a sacred indigenous site, leading its CEO to step down. It was later called out by Australian Aboriginal groups for its lack of communication as it tried to mend ties.
Burgundy Managing Director and CEO Peter Ravenscroft said this acquisition “ticks many of our strategic boxes.”
“It is in one of our focus jurisdictions of low-risk diamond countries, it provides us potential for early cash-flow to underpin our expansive growth strategy, and it focuses on the production of high-value colored stones in the same way as our Naujaat diamond project in Canada.”
The Ellendale mine, located in the West Kimberley region of Western Australia, is famous for its fancy yellow diamonds.
It’s estimated to have produced around half of the world’s fancy yellow diamond supply.
Former owner Kimberley Diamonds Ltd. inked a special marketing agreement with Tiffany and Co. for the yellow diamonds in 2009.
Kimberley Diamonds suspended operations of the mine in 2015, citing lower revenues from a decline in grades of recovered diamonds.
Gibb River then acquired the mine leases in December 2019.
The deal between the company and the mine’s prospective new owner has been broken up into three payments across two years.
If Burgundy does not hold up its end of the agreement, Gibb River will retain full ownership of the mine.
The nearby Blina alluvial diamond project, which includes mining and exploration leases, is also included in the deal.
Once the sale is complete, Gibb River Diamonds said it will have more time to focus on the exploration and development of its Edjudina Gold Project and the recently discovered Neta Lodes gold prospect.
The Latest

The Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.

The jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.

The “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.


Interior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.

During a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.

The feedback will be used to prepare other jewelers for the challenges ahead, the organization said.

The online sessions are designed to teach jewelers to use AI tools like ChatGPT and Claude to grow their business.

The opening marks the jewelry retailer’s first location in the Midwest.

The “United in Love” collection offers tangible mementos of hearts entwined with traditional and non-traditional commitment heirlooms.

Robert Goodman Jewelers will hold a “Black Jewelry Designers and Makers” event on April 27.

The announcements follow a tumultuous start to 2025 for WJA, which saw a wave of resignations following controversial statements about DEI.

Editor-in-Chief Michelle Graff answers questions about how the new taxes levied on countries like India and China will impact the industry.

Kenewendo, Botswana’s minster of minerals and energy, discusses closing the deal with De Beers and the work that was missed along the way.

The historic fancy vivid blue diamond set to headline Christie’s Geneva sale next month could sell for up to $50 million.

LVMH CFO Cécile Cabanis also discussed the effects of tariffs so far.

The “Mad Men” and “The Morning Show” star steals jewelry, art, and handbags from his wealthy neighbors in “Your Friends & Neighbors.”

An investigation found that the former managing director of Movado’s Dubai branch overstated and prematurely recorded sales.

The collection pays tribute to the Japanese philosophy of Ma, studying balance, stillness, and the interplay between presence and absence.

Mari Lou’s Fine Jewelry in Orland Park, a suburb of Chicago, is closing its doors.

GIA’s labs in Dubai and Hong Kong are now accepting larger diamonds in light of the “logistical challenges” presented by the new tariffs.

These earrings by Van Cleef & Arpels, featuring the same design as a pair worn by Princess Grace, are up for auction at Woolley & Wallis.

Two experts share how artificial intelligence tools can help retailers run a more efficient business.

“America Telling Time: 150 Years of Bulova” explores the storied history of the American watchmaker.