The company Stellar Diamonds has entered into joint venture agreements with Citigate Commodities Trading in Dubai for kimberlite project Baul (Baoulé) in Guinea, as well as two licensed projects at an early stage of development and exploration in western Liberia.
The company currently owns a 75 percent stake in the project Baule, and it is wholly owned by the project in Liberia.
Executive Director of Stellar Karl Smithson (Karl Smithson) said that he would manage the programs at least at the first stage of the work, which was scheduled for the end of November.
"It is important to note that these joint ventures will allow Stellar management team to focus on the proposed transaction on the project Tongo Tonguma (Tongo-Tonguma) in Sierra Leone, which, in our opinion, has considerable potential", - said Smithson.
"Joint project Tongo Tonguma demonstrated robust economic performance in the preliminary economic assessment is expected that the current valuation of the mine life cycle proceeds from the project will be about $ 1.5 billion.", - he concluded.
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Executive Director of the Dubai Commodities Center (Dubai Multi Commodities Centre, DMCC) Ahmed Bin Sulayem (Ahmed Bin Sulayem) last week visited Panama, where he was awarded an honorary member of the World center of the jewelry industry (World Jewelry Hub, WJH). The award was presented by the Chairman WJH Izhakoff Eli (Eli Izhakoff), according to a press release sent to Rough & Polished.
ReplyDeleteBin Sulayem, which is also the current Chairman Kimberley Process (KP) of UAE, visited Panama as WJH guest.
During his visit, he saw a booming diamond trade center, precious stones and jewelry in Latin America, met with the leadership of the Panama Diamond Exchange (Panama Diamond Exchange, PDE), and discussed the possibility of cooperation WJH and DMCC.
Bin Sulayem also met with the Minister of Commerce of Panama Augusto Arosemena (Augusto Arosemena). They discussed the current developments in the manual, as well as the ways in which this initiative can be developed in the Latin American markets.
"We are honored to welcome Ahmed bin Sulayem and learn the point of view of one of the industry leaders, who was instrumental in the creation of DMCC has, is the largest and the fastest growing free trade area of more than 11,000 companies - said Izhakoff -. Over the past 14 years, he and his team were among the first to develop the concept of a shopping center in Dubai, which would be engaged in precious metals and stones, diamonds and jewelery. Their work has served as a model and a benchmark for what we are doing in Panama ".
Bin Sulayem thanked Izhakoff for its generous hospitality and for the privilege to be awarded honorary membership in the WJH. "I am very impressed with the scope of companies that are already working in WJH This center has everything it needs to become an important player in the industry and the entry point to global companies in the Latin American market.", - he said.