Although a 1972 dredging by USNSEltaninfrom the submarine Naturaliste Plateau was reported to yield rocks of continental origin, a re‐examination of the dredge haul shows that the rock clasts are in fact altered tholeiitic basalts. They have affinities both with MOR basalts and, especially, within‐plate basalts. Petrographically they correlate most closely with the Bunbury Tholeiitic Suite on the Australian mainland to the east. The basalts are reworked cobbles in a manganiferous Quaternary slump mass, which contains a quartz‐rich, felsic, detrital mineral suite with a granite‐gneiss provenance. The basalt cobbles were part of a basal conglomerate, which covered large areas of the Plateau. It is suggested that this was laid down from nearby elevated volcanic structures formed during the inception of seafloor spreading and the separation of Greater India from Australia at about 122 Ma BP.