Mandala mining licence renewed
JOHANNESBURG (miningweekly.com) – Aim-listed Stellar Diamonds on Monday announced that its Mandala mining licence in south-eastern Guinea had been renewed for a five-year period from October 17.
As part of the renewal process, and in accordance with the mining law, the licence was reduced in area and now covered a total of 5 km2, centred on the diamondiferous valleys of the Mandala and adjoining N'Keleyani rivers.
"The renewal of the mining licence at Mandala allows the company to resume mining and generate cash flow,” Stellar CE Karl Smithson said.
The Mandala mine had been put on temporary care and maintenance in 2011 pending an improvement in market conditions and outlook.
“Following the improvement in the rough diamond market, the board is currently considering funding options at project level, which would enable the company to bring Mandala back into production in early 2014,” he said.
An independent resource for the mine had been calculated at about 135 000 ct, with the majority of this diamond resource being located within the N'Keleyani river valley where previous mining by Stellar yielded average diamond grades of over 50 ct per 100 tons (cpht) and up to 100 cpht in some areas.
However, Stellar was estimating an increase in this resource.
“Based on the previous mining rates, a further 200 000 ct are modelled to remain in resource and there is significant potential for additional untested channels,” Smithson said.
Meanwhile, the bulk sampling, which formed a part of the project feasibility study at the company’s 1.1-million carat Tongo kimberlite dyke project, in Sierra Leone, was ongoing, Smithson said.
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