Stellar submits Tongo mining licence application
JOHANNESBURG (miningweekly.com) – Aim-listed Stellar Diamonds has formally submitted its application for a large-scale mining licence for the Tongo project to the Sierra Leone National Minerals Agency (NMA).
The application would be processed by the NMA and then forwarded to the Minerals Advisory Board, which would make a recommendation to the Minister of Mines on whether or not to approve the licence.
Stellar had also submitted the final environmental, social and health-impact assessment (Eshia) report for the project to the Environmental Protection Agency (EPA) for consideration.
To complete the EPA process, public disclosure meetings would be held in the new year, both in the project area and in Freetown, after which the Eshia can be approved by the EPA and the required environmental licence issued.
“The submission of the Tongo mining licence application and Eshia marks a key milestone in the development of the project as we make the transition from exploration to mining.
“Notably, as far as I am aware, this is the first large-scale mining licence of any kind to be applied for since the onset of the Ebola crisis. As such, this also marks an important milestone for Sierra Leone, which needs to attract new private sector investment to contribute to its post-Ebola economic recovery,” said Stellar CEO Karl Smithson.
The Tongo project’s Dyke 1 has a Joint Ore Reserves Committee-compliant resource of 1.45-million carats, with a preliminary economic assessment having determined robust economics for an 18-year mine life.
There was also opportunity to expand the mine life and project economics through the addition of any of the other three dykes in the licence area.
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