African Review

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Stella Diamonds renews Sierra Leone Tongo licence

Thursday, 02 August 2012 16:00

Stella Diamonds Tongo project renewalThe mining firm Stella Diamonds has announced the renewal of its exploration licence over operations in the Tongo kimberlite dykes project in Sierra Leone

Situated in the eastern district of Kenema, the licence permits management of four diamondiferous kimberlite dykes, which have a current resource of 660,000 carats, valued at US$248 per carat.

Stella Diamonds chief executive Karl Smithson said, "The renewal of our Tongo exploration licence enables the company to pursue its objective of doubling the existing 660,000 carat resource through the ongoing drilling and evaluation programme.”

Stella Diamonds has also revealed that discussions were underway with the Ministry of Mines regarding the renewal of its operation licence in the republic’s diamond-rich eastern district, Kono.

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