Diamond miner Redaurum (RRK-T) says it intends to “strenuously defend” title to its Kelsey Lake mine, 45 miles west of Fort Collins, Colo., near the Wyoming border.
The company’s rights to the new diamond mine are being challenged by Union Pacific, a U.S. rail company, which claims it has historic mineral rights to the property. Union Pacific filed suit against Redaurum in late January.
Redaurum also operates diamond mines in South Africa and, through a joint-venture, in Zimbabwe.
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