Australian lithium miner Winsome Resources has signed a deal to purchase the Renard diamond mine in Quebec, the sole asset of bankrupt miner Stornoway.

But Renard’s days as a diamond producer look like they’re over, a spokesperson tells JCK.

“Winsome’s intention is not to continue mining diamonds at Renard, which was already deemed uneconomic by Stornoway,” the spokesperson says.

“Rather, it plans to repurpose the site and existing processing infrastructure to assist permitting, development, and ultimately processing of lithium from Winsome’s nearby Adina Lithium Project. This will minimize environmental impacts and provide a significant capital investment head start for [Winsome], given the value of infrastructure and equipment at Renard, should the acquisition go ahead.”

Winsome may also further explore for lithium in the region, a company statement said.

The deal, which specifically excludes any leftover diamond inventory, needs approval from the Superior Court of Quebec to move forward.

Renard produced diamonds from 2017 until the fourth quarter of 2023, when owner Stornoway filed for bankruptcy protection. The mine’s life was initially projected at 14 years.

While in operation, Renard produced an average of 1.8 million carats a year and employed over 500 people.

(Photo courtesy of Winsome Resources)

 

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