Blina stops mining on GFC concerns

Shares in Blina Diamonds have slumped after the West Perth-based company decided to stop all mining activities until economic conditions and diamond prices improve.

The company said the decision was made following a review of all of its operations.

Blina said it will continue with its existing exploration activities.

"The board of Blina is committed to pursuing ways of optimising the company's existing tenements whilst also being responsive to other opportunities that may arise," it said in a statement.

Shares in Blina dropped 0.5 cents, or 20 per cent to two cents at 11:18 AEST.