Sierra Leone diamond firm Koidu may go for listing

  • Business Premium
  • Saturday, 07 Apr 2012

SIERRA Leone's only pit diamond mine has come far from its origins as wartime booty presented to mercenaries by a grateful military junta.

Seventeen years and several changes of ownership later, Koidu Holdings is selling gems in outlets such as US jeweller Tiffany & Co and considering a possible public listing, which could raise hundreds of millions of dollars to fund expansion. While burnt-out houses surrounding the mine in the eastern town of Koidu serve as a reminder of the West African country's 11-year civil war, which claimed some 50,000 lives before it ended in 2002, Koidu's managers see the operation as a success story that augurs a better future for Sierra Leoneans.

Article type: metered
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Next In Business News

China-listed firms rush to divest property businesses amid sector crackdown Premium
Grab slumps in US debut after record SPAC deal Premium
Oil ends higher after a day of wild swings on OPEC, Omicron Premium
Sugar price hits four-month lows as Omicron fears persist Premium
Powell pivot crushes yield curve, deepens bond market conundrum Premium
-Wall Street ends higher in robust rebound from Omicron-driven rout Premium
Earnings recovery in Q3 Premium
China advisers to recommend lower 2022 GDP target as headwinds grow Premium
Strong rebound on the cards Premium
Sunway Carnival Mall to double retail space in expansion drive Premium

Others Also Read