Trustco secures $85.8mln for development, expansion of Sierra Leone diamond mine

Namibia’s Trustco Resources has secured a debt facility of $50 million and an export credit facility of $35.8 million for the development and expansion of the resources segment, with the emphasis on its diamond mining asset in Sierra Leone, Meya Mining.
It said the combined facilities would ensure that Meya Mining’s initial mine configuration targeting 360 000 carats per annum is fully capitalised, thus enable the mine to transition into commercial production within an 18-month period post funding. 
Trustco said Meya’s mine plan will for the first seven years shall focus on the depletion of the Meya River domain from where the 476-carat Meya Prosperity diamond was recovered, which presents the highest geo-economical potential. 
Meya holds a four-year exclusive diamond exploration licence over the Kono District. 

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished