RapNet


Rapaport News

 

Mining

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Sierra Leone Yields Another Massive Diamond

Subsidiary of Nambia’s Trustco Group finds stone in Kono district.
Nov 12, 2017 5:24 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... A Sierra Leone mining operation discovered a 476-carat rough diamond at the Meya deposit in the nation’s Kono district last week, its owner announced Friday.

Meya Mining, a subsidiary of Namibia-based conglomerate Trustco Group, found the diamond, which ranks as the fifth-largest rough ever found in Sierra Leone, according to Rapaport records.

“Any value indication of the diamond is pure speculation at this stage, as the diamond has not yet been examined and assessed by the necessary experts,” Trustco said.

Meya holds a four-year exclusive diamond-exploration license in the Kono district. It found the stone in an area spanning from the Kamara Gbense to the Tankoro chiefdoms, and intends to sell it through an international auction, the parent company explained.

On the same day, Meya also unearthed diamonds weighing 27.93 carats and 19.70 carats in Kono, Trustco added.

Trustco, whose shares are listed in Windhoek and Johannesburg, has interests in insurance, finance and natural resources. It bought 51% of Meya Mining in August 2016 from Germinate Sierra Leone for $1 million, but that price could rise to about $26 million if the asset meets certain performance targets. 

The company’s announcement follows the discovery of the 709-carat Peace Diamond by artisinal miners in the Kono district in March. The Rapaport Group will auction that diamond — believed to be the 14th-largest in history — in New York on December 4.

Images: Trustco Group. Lower image shows Sierra Leone Minister of Mines and Mineral Resources Minkailu Mansaray with the 476-carat diamond.
Tags: Ernest Bai Koroma, Germinate Sierra Leone, Kamara Gbense, kono, Kono district, Meya, Meya mine, Meya Mining, Namibia, Peace Diamond, Rapaport, Rapaport Group, Rapaport News, Sierra Leone, Tankoro, Trustco, Trustco G
Similar Articles
AlrosaAlrosa Finds Diamond Inside a Diamond
Oct 06, 2019
Alrosa has recovered an unusual piece of rough featuring one diamond...
Lesotho Renews Letšeng Lease
US Bans Import of Zimbabwe Diamonds
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us