Kono-based diamond mining company Meya Mining has secured a substantial investment of $75 million from Namibian financiers Trustco and Sterling Global Trading.
This strategic funding is set to accelerate Meya’s operations and elevate its world-class underground mining activities.
Trustco, headquartered in Windhoek, proudly announced the investment package, with Sterling Global Trading committing $50 million, comprising a $25 million equity stake, granting them a 70% ownership, and an additional $25 million as a loan.
The partnership between Trustco and Sterling Global Trading brings together two leading players in the diamond mining industry, with Sterling’s renowned expertise poised to empower Meya to expand its underground operations and ramp up production capacity.
Meya holds an extensive large-scale mining license covering 129 square kilometers in the Kono region, with initial exploration findings revealing a resource of seven million carats. These findings serve as the foundation for a 15-year underground mining plan, targeting an annual production of one million carats.
Notably, in July 2023, Meya achieved its first underground production, marking a significant milestone for the company. Trustco will retain a 19.5% stake in Meya, while local investor Germinate SL will hold a 10.5% share.
This substantial investment injection from Trustco and Sterling Global Trading is expected to propel Meya Diamond Mining to new heights, cementing its position in the diamond mining sector and making meaningful contributions to the economic growth and development of Sierra Leone.
