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Stellar Renews Guinea Mining License
Nov 11, 2013 5:31 AM
By Deena Taylor
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RAPAPORT... Stellar Diamonds renewed its mining license at the Mandala project in southeastern Guinea for an additional five years.
As part of the renewal process, and in accordance with the Guinea's mining law, the area that the license covers was reduced to 5 square kilometers and centers on the diamondiferous valleys of the Mandala and adjoining N’Keleyani River.
The company is currently considering recommencing production at Mandala in early 2014, following improvement in rough diamond prices. Mandala, which was placed on care and maintenance in 2011, produced 128,000 carats, including a 37-carat fancy yellow diamond between 2009 and 2011. Mandala is estimated to still contain a resource of around 200,000 carats of diamonds.
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Tags:
Deena Taylor, Guinea, Mandala, Rough Diamonds, Stellar Diamonds
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