Kelsey diamond mine sold

The United States’ only diamond mine changed hands early this month as the owners decided to ditch diamonds for a precious metal: vanadium.

McKenzie Bay International Ltd. sold the Kelsey Lake Diamond Mine for an undisclosed sum to Wyoming-based Roberts Construction Co. and diamond seller BJ&J Ltd. of Boulder. The mine, which produced the famous 28.3-carat Colorado Diamond in 1996, sits west of US Highway 287, at the Colorado-Wyoming border.

Roberts and BJ&J will acquire the mine for the net value of equipment minus the outstanding debt. The agreement further provides that the new owners will pay McKenzie Bay a 50 percent…