During a General Meeting of West African Diamonds, all resolutions to effect the acquisition of Stellar and associated fundraising of £5 million (gross) were passed, conditional only on Admission.
WAD will also change its name to Stellar Diamonds plc as from Admission. Existing WAD shares will be consolidated on a 5:1 basis.
A new board of directors [...]
Company News
West African Diamonds Renames to Stellar Diamonds; John Teeling Steps Down as Chairman
Africa
Alluvial Diamond Mining Recommences at Konoma in Sierra Leone, Says Obtala
Obtala Resources plc (AIM:OBT) which invests in and develops mineral assets is pleased to announce that alluvial diamond mining has re-commenced on the newly acquired Konoma alluvial diamond operation in Sierra Leone.
Since acquiring the company Obtala has completed a review and maintenance programme of both the DMS plant and the earth moving equipment. Site infrastructure [...]
Africa
New Report urges UN to Learn Lessons on Resource-Fuelled Wars
The lack of a coherent and committed international approach to tackling the role of natural resources in conflict is costing lives in Democratic Republic of Congo (DRC) and heightening the risk of further unrest in other fragile states such as C?te d’Ivoire and Guinea, according to a new report from Global Witness.
Drawing on Global Witness’ [...]
Americas
International Symposium on Improving Natural Resource Management in Post-Conflict Countries Addresses Role of Kimberley Process
An international symposium on improving Natural resource management in post-conflict countries held in the University of Tokyo has addressed the issues of ‘Business of Diamond Mining and Human Insecurities in Sierra Leone’, presented by Kazumi Kawamoto of the University of Tokyo, ‘Tracking Down Blood Diamonds: How Industry, Governments and NGOs Made Kimberley Process a Success?’, [...]
Africa
Dolat Ventures Reports Increased Government Social Spending in Addition to New Mining Laws in Sierra Leone
Dolat Ventures Inc. (OTCBB: DOLV) says its subsidiary Dove Diamonds & Mining reported that there has been a rise in tax imposed by Sierra Leone on high-value diamond exports. The tax has been raised from 6.5 percent to 15 percent, on diamonds valued $500,000 and above. The imposition was put into effect as of December [...]
Africa
VL Holdings to Act as Exclusive Distributor of Konoma Alluvial Diamond Operation in Sierra Leone re Agreement with Obtala Resources
Obtala Resources plc (AIM:OBT), which invests in and develops mineral assets,has signed a Distribution Agreement with VL Holdings Limited (VL), of Hong Kong, whereby VL will act as the sole distributor for the diamond production from the newly acquired Konoma alluvial diamond operation in Sierra Leone.
Under the terms of the agreement VL will act as [...]
Africa
African Minerals Limited Divesting Diamond Interests to Obtala Resources
African Minerals Limited (AIM:AMI), the mineral exploration and development company with significant iron ore and base metal interests in Sierra Leone, West Africa, has divested its diamond operations in Sierra Leone to Obtala Resources plc (AIM:OBT).
Under the terms of the sale and purchase agreement, AML has agreed to transfer to Obtala the entire issued share [...]
Africa
West African Diamonds and Stellar Diamonds Combined Venture To be Relisted in Coming Months
Diamond News – diamond mining news: The combined venture of the merger between West African Diamonds (WAD) and Stellar Diamonds, a privately held diamond explorer and miner, will relist in the current quarter, subject to approvals and a successful fundraise, says a statement from WAD.
The combined venture will have two producing diamond mines in Guinea, [...]
Africa
Shmuel Dovid Hauck Appointed President and Director of Dolat Ventures
Shmuel Dovid Hauck has been appointed as President and Director of Dolat Ventures Inc. (OTC.BB:DOLV).
Since 2003, Mr. Hauck has been involved in mining diamonds, gold and other precious stones and metals in Sierra Leone. Mr. Hauck has spent his entire professional career involved in the diamond business both on the physical mining and wholesale sides. [...]
Africa
7 Issues Mark 7 Years of Kimberley Process for NGO
To mark ten years since discussions about a certification system for rough diamonds began and prior to the Seventh Annual Plenary Meeting of the Kimberley Process in Namibia, in November, NGO Partnership Africa Canada has highlighted 7 unresolved issues in the Kimberley Process in Other Facets, a periodic newsletter about the international effort to end [...]
Africa
Sierra Leone Exports 23,000 Carats of Gem Diamonds in July 2009
According to the latest information available, diamond shipments from Sierra Leone fell to 23,000 carats in the month of July 2009. The country’s diamond shipments, including both industrial diamonds and gem quality stone, were down by over 18% in July compared to July 2008.
Company News
Plant 11 in Koidu, Sierra Leone, to Reopen under New Management
The directors of West African Diamonds (WAD), the AIM listed diamond miner, have made an agreement with Pyramid Resources, a private Sierra Leone company, to reopen the Plant 11 tailings project near Koidu.
Pyramid, formed by local WAD advisers and management, has taken over the Mining Lease and certain plant and equipment. They will focus on [...]
