Industry News by Nemesis

Sierra Diamonds Eyes Underground Mining with $25m Investment

January 21, 2016

Sierra Diamonds said it is set to invest $25 million in large-scale underground mining in Sierra Leone if their application for license to mine diamonds in Tongo gets a nod by the National Minerals Agency. 

 

Awoko newspaper reports that Sierra Diamonds, a subsidiary of Stellar Diamonds, had been conducting diamond exploration in Sierra Leone for “a period now”. 

 

The company had established a diamond resource of 1.45 million carats and its operational life span would be 18 years of intensive underground mining in the country. 

 

“The mining will consist of 3 mining pits each covering a nominal strike length of 650m. This may vary according to local variations in the surface elevation and strike extent of separate section of the dyke where it breaks up to the eastern end of the deposit,” company chief executive Karl Smithson was quoted as saying. 

 

“Each pit will start mining at the center of 650m strike and as the next bench elevation will be created. It is proposed that 6 benches will be advanced simultaneously in the opposite directions.” 

 

He also said the preliminary economic assessment had been undertaken on the Tongo project to establish the company’s future investment policy. 

 

Source: Rough&Polished

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