JOHANNESBURG (miningweekly.com) – Aim-listed Stellar Diamonds on Wednesday announced the renewal of the diamond exploration licence at its Droujba operation, in Guinea.
The licence, which hosts a three-million carat Joint Ore Reserves Committee-compliant resource at the diamond development company’s Droujba play, was renewed for two years to December 24, 2014.
This followed extensive government audits into all mining companies operating in Guinea and all mining permits in the country.
Further, Stellar had relinquished 14 km2 of ground not considered by the company to be prospective, reducing the licence area to 7 km2.
Three further exploration licences covering 100 km2 and located to the immediate west of Droujba are currently in the process of being renewed for a period of two years.
Stellar CE Karl Smithson said in a statement that the company was pleased that the Droujba licence was among the first to be renewed, considering the Guinea government licence audit and the cancellation of numerous non-active exploration and mining permits.
“We believe this was on the basis of our previous and current work, our high standards of government reporting and the generation of a significant and growing diamond resource,” he said.
The West Africa-focused company was advancing the Droujba and Tongo kimberlite projects in Guinea and Sierra Leone respectively.
In April, the company announced a dispute with the Ministry of Mines in Sierra Leone over its two Kono licences and remained in discussion with that government regarding the reinstatement of those licences.