Sierra Leone underground diamond mine sells first gems

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Freetown,Sep 16: Sierra Leone's only underground diamond mine has sold its first gems, bringing it a step closer to full-scale production and a stock market listing next year, one of its parent companies has said. Stellar Diamonds, majority-owned by Mano River Resources, said its Kono Kimberlite Diamond Project joint venture sold 1,049 carats at a sale last week. Petra Diamonds owns 51% in the Kono project.

“The Kono project is working under an exploration licence, but plans to apply for a full diamond mining licence in 2009,” Stellar chief executive Karl Smithson told Reuters. Smithson did not give the total value of last week's sale, but said the largest diamond, at 10.55 carats, raised $31,000.

The Kono project is the first underground diamond mining scheme in Sierra Leone, charting the length of kimberlite dykes beneath the surface in the diamond-rich east of the country. Currently mining at up to 65 metres depth from two shafts, the company hopes to dig to 120 metres, requiring railway tracks and ventilation systems.