Meya Mining's transition to full commercial diamond production in Sierra Leone has been materially delayed and is now not expected before the fourth quarter of 2026 at the earliest, Trustco Group has warned.
The operation, in which Trustco holds a minority equity interest and a loan receivable of approximately $46 million, has been in operational readiness since January 2025 in response to challenging conditions in the diamond market.
This status is expected to continue until at least the fourth quarter (Q4) of 2026, after which it will be reassessed.
No date for the commencement of full commercial production has been confirmed.
Trustco said information received from the mine's operator and Meya's audited annual financial statements for the year ended 31 December 2025 show the development represents a material delay to the transition contemplated in an earlier announcement regarding a $25 million financing facility concluded between Meya and Ecobank Sierra Leone Limited in February 2026.
Meya's audited financial statements further record an unqualified audit opinion, which contains a material uncertainty related to the going concern, net current liabilities of $36.6 million as of 31 December 2025, and a dependence on available banking facilities and continued shareholder support.
Trustco confirmed it has not provided any suretyship, guarantee or similar credit support.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
